Which of the Following Is a Difference Between Component Parts

question 60

Multiple Choice

Which of the following is a difference between component parts inventories and work-in-process inventories?

• A) Unlike component parts inventories, work-in-process inventories include goods that are sent to distribution centers.
• B) Raw materials are fabricated or processed into component parts inventories, whereas work-in-process inventories are a result of the assembly of component parts.
• C) The process involved in creating work-in-process inventories is also known as initial assembly, whereas the process involved in creating component parts inventories is also known as final assembly.
• D) Unlike component parts inventories, work-in-process inventories can be purchased from vendors.

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Definitions:

Recording Statutes

Laws that govern the recording of documents (such as deeds or mortgages) to provide notice of their content and to establish legal priority.

Race-Notice Statute

A law pertaining to real estate which gives priority to the first party to record an interest in a property, provided that party did not have notice of any other claims at the time of recording.

Grant Superior Title

The process of transferring a higher quality or clearer title to property, often used to resolve issues or disputes regarding property ownership.

Constructive Eviction

In landlord–tenant law, a breach of duty by the landlord that makes the premises uninhabitable or otherwise deprives the tenant of the benefit of the lease and gives rise to the tenant’s right to vacate the property and terminate the lease.