A Process Flowchart Uses Which of the Following Symbols to Represent

question 40

Multiple Choice

A process flowchart uses which of the following symbols to represent storage areas or queues in a flow diagram?

• A) Rectangle
• B) Arrow
• C) Inverted triangle
• D) Diamond
• E) A dashed line

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Definitions:

Average Cost

A method of inventory valuation which calculates the cost of goods sold and ending inventory based on the average cost of all similar items.

Journal Entries

These are records of all the financial transactions of a business, recorded in the chronological order in which they occur.

Units Sold

The total quantity of products or goods a company has sold during a particular period.

Adjusting Entries

Journal entries made before the preparation of financial statements to ensure that revenues and expenses are recognized in the period they occur.