The 4 C's of Credit Include Character,capital,capacity,and Conditions

question 26

True/False

The 4 C's of credit include character,capital,capacity,and conditions.

---

Definitions:

Work In Process Inventory

The direct materials costs, the direct labor costs, and the applied factory overhead costs that have entered into the manufacturing process but are associated with products that have not been finished.

Factory Overhead

Factory overhead, also known as manufacturing overhead, includes all the indirect costs related to manufacturing that cannot be directly attributed to a specific product unit.

Direct Materials

Raw materials that are directly traceable and integral to the finished product in the manufacturing process.

Work In Process

This refers to the goods that are in the middle of the manufacturing process but are not yet complete.