Which of the Following Accounts Might Be Placed First in a Journal

question 159

Multiple Choice

Which of the following accounts might be placed first in a journal entry?

• A) Bonds Payable,when it has been decreased
• B) Cash,when it has been decreased
• C) Unearned Revenue,when it has been increased
• D) Interest Income,when it has been increased

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Definitions:

Standard Cost System

An accounting system that uses predetermined costs for products or services to facilitate variance analysis and budgeting.

Direct Labour Hours

Total hours accumulated by workers directly involved in the fabrication process.

Direct Materials Inventory

The total cost of raw materials that are directly involved in the manufacturing of a product and are currently held in inventory.

Labour Rate Variance

A financial metric that measures the difference between the actual cost of labor and the expected (or standard) cost.