________ Tests a Numerical Amount to Ensure That It Does

question 63

Multiple Choice

________ tests a numerical amount to ensure that it does not exceed a predetermined value nor fall below another predetermined value.

• A)Completeness check
• B)Field check
• C)Limit check
• D)Range check

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Definitions:

Weighted-Average Method

A costing method where the cost of inventory items is determined based on the weighted average of the costs of similar items at the beginning of a period and the costs of items acquired during that period.

Work In Process

Units of product that are only partially complete.

Conversion Costs

Conversion costs represent the combined costs of direct labor and manufacturing overheads incurred to convert raw materials into finished goods.

Equivalent Unit

A measurement used in process costing to equate the work done on units in progress to a number of fully completed units.