In a Just-In-Time Costing System, the Entry to Record the Sale

question 141

Multiple Choice

In a just-in-time costing system, the entry to record the sale of a manufactured product would include which of the following?

• A) Debit to cost of goods sold
• B) Debit to finished goods inventory
• C) Credit to raw and in process inventory
• D) Credit to conversion costs

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Definitions:

Parasympathetic System

A division of the autonomic nervous system responsible for conserving energy and promoting restful states by slowing the heart rate, increasing intestinal and gland activity, and relaxing sphincter muscles.

Sympathetic System

Part of the autonomic nervous system that activates the body's response to stress, preparing the body for action.

Endocrine System

A collection of glands that produce hormones which regulate metabolism, growth and development, tissue function, sexual function, reproduction, sleep, and mood, among other things.

Motivational Tension

A psychological condition where an individual feels compelled to act due to a perceived discrepancy between their current state and their desired state.