In a Just-In-Time Costing System, Any Remaining Balance in the Conversion

question 41

Multiple Choice

In a just-in-time costing system, any remaining balance in the conversion costs account at the end of an accounting period is usually cleared to which account?

• A) Raw and in process inventory
• B) Cost of goods sold
• C) Work in process inventory
• D) Finished goods inventory

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Definitions:

DNA Polymerase

An enzyme that synthesizes DNA molecules from deoxyribonucleotides, the building blocks of DNA.

UV Radiation

Ultraviolet radiation, a type of energy emitted by the sun and artificial sources, which is invisible to the human eye and can damage living tissue.

Okazaki Fragments

Short sequences of DNA produced on the lagging strand during DNA replication, later joined to form a continuous strand.

Semiconservative Replication

The process by which DNA duplicates itself, where each of the two resulting DNA molecules consists of one new and one original strand.