A Follow-Up Effort Made to an Insurance Company to Locate

question 32

Multiple Choice

A follow-up effort made to an insurance company to locate the status of an insurance claim is called a/an

• A) inquiry.
• B) tracer.
• C) rebill.
• D) both a and b

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Definitions:

Finished Goods

Products that have completed the manufacturing process and are ready for sale to customers.

Journal Entry

A record in accounting that represents a transaction, where each entry includes debits and credits that total an equal amount.

Direct Labor-Hour

A measurement of labor input that represents the amount of time spent by workers directly involved in the production process.

Overapplied Overhead

A situation where the overhead allocated to products exceeds the actual overhead costs incurred, leading to a need for adjustment in cost accounting.