Which of the Following Is a Characteristic of Continuous Flow

question 69

Multiple Choice

Which of the following is a characteristic of continuous flow systems?

• A) They produce customized products and services.
• B) They do not keep an inventory of finished products or offer standardized services.
• C) They have relatively large volumes of similar products flowing through similar stages of the operating system.
• D) They result in higher unit costs than the intermittent flow systems.
• E) They include special-order fabrication shops, hospitals, advertising agencies, and dental offices.

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Definitions:

Correcting Entries

Adjustments made in the accounting records to rectify mistakes made in previous financial transactions or entries.

Post-closing Trial Balance

A list of all accounts and their balances after closing entries are made, used to verify the equality of debits and credits.

Balance Sheet Accounts

Accounts that are reported on the balance sheet and include assets, liabilities, and equity sections, reflecting the financial position of a company at a specific time.

Owner's Equity

The residual interest in the assets of a business after deducting its liabilities.