In Data Flow Diagrams Describing the Accounting Information System of a Consulting

question 100

Multiple Choice

In data flow diagrams describing the accounting information system of a consulting firm, a customer is most likely represented as a(n) :

• A)data flow
• B)data store
• C)external entity
• D)process bubble

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Definitions:

Cost of Goods Available

The cost of goods available represents the total cost of inventory available for sale during a certain period, calculated as beginning inventory plus purchases minus ending inventory.

Schedule of Cost

A detailed report showing the breakdown of the cost components including materials, labor, and overhead for a project or production process.

Underapplied Manufacturing Overhead

A situation where the actual manufacturing overhead costs exceed the applied (or allocated) manufacturing overhead costs.

Allocation

Allocation refers to the process of distributing resources, costs, or revenues among various accounts or departments within an organization based on predetermined criteria.