Which of the Following Statements Regarding Work in Process Is

question 66

Multiple Choice

Which of the following statements regarding work in process is not correct?

• A)Work-in-process is partially completed inventory.
• B)Work-in-process consists of direct labour, direct material, and manufacturing overhead.
• C)Work-in-Process Inventory is debited to record direct material used and direct labour incurred.
• D)Work-in-Process Inventory appears on the year-end balance sheet.
• E)Work-in-Process Inventory is credited when goods are sold.