Which of the Following Journal Entries Is Used to Record

question 165

Multiple Choice

Which of the following journal entries is used to record actual variable overhead costs incurred?

• A) Accounts Payable Variable Overhead Control
• B) Variable Overhead Control Accounts Receivable
• C) Work-in-Process Control Variable Overhead Control
• D) Variable Overhead Control Accounts Payable and various other accounts

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Definitions:

Malpractice

Occurs when a professional accountant, health care professional, or attorney—fails to meet his or her duty of care.

Cardozo Standard

A legal principle named after Justice Benjamin Cardozo, emphasizing the importance of foreseeability and reasonable expectations in determining duty of care.

Privity

In contract law, the relationship that exists between two parties to a contract giving each a recognized interest in the subject matter of the contract so that they are bound to that contract.

Sarbanes-Oxley

A U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.