Select the Incorrect Statement Regarding Cost Flows Through a Process

question 39

Multiple Choice

Select the incorrect statement regarding cost flows through a process cost system.

• A) The process cost system is patterned after the physical flow of products as they move through the production process.
• B) The three inventory accounts used are maintained on a perpetual basis.
• C) Product costs are accumulated separately by job.
• D) A separate work in process account is maintained for each department or process.

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Definitions:

Exploratory Motives

The drive behind individuals' desire to explore, investigate, and learn about their environment or new ideas.

Job Performance

The degree to which an employee successfully fulfills the tasks, duties, and responsibilities of their job.

Productivity

relates to the efficiency and effectiveness with which inputs are converted into outputs, often measured in terms of output per unit of input in an economic or workplace context.

Incentives

Rewards or stimuli that motivate individuals to perform actions or engage in behaviors.