In a Perpetual Inventory System,a Transaction That Requires Two Journal

question 40

Multiple Choice

In a perpetual inventory system,a transaction that requires two journal entries (or one compound entry) is needed when

• A)raw materials are purchased on account.
• B)goods are sold for either cash or on account.
• C)goods are finished and transferred out of Work in Process Inventory.
• D)overhead is applied to Work in Process Inventory.

---

Definitions:

Time Of Crime

The specific time during which a criminal act was committed.

Insanity

Insanity is often used colloquially to describe significant mental health problems, but it is formally a legal term for individuals who are unable to understand the nature or quality of their actions during the commission of a crime.

Guilty But Mentally Ill

A legal verdict indicating that the defendant is guilty of the crimes committed but was also suffering from mental illness at the time, which may influence sentencing and treatment.

Plead

To make an explanation or argument, especially in a legal case, or to express something as an excuse.