Cost of Goods Sold Needs to Be Debited at Year-End

question 39

True/False

Cost of goods sold needs to be debited at year-end when the manufacturing overhead is overallocated in order to clear the overhead account to zero.

---

Definitions:

Antipsychotic Drugs

Medications used to treat psychotic disorders, such as schizophrenia, by affecting neurotransmitter pathways in the brain.

Lobotomies

A surgical operation that involves severing connections in the brain’s prefrontal lobe, historically used to treat mental illness.

Psychologically Disordered

A condition characterized by persistent disruptive psychological symptoms that significantly affect day-to-day functioning and well-being.

Electroconvulsive Therapy

A medical treatment involving electrically induced seizures intended for severe mental disorders, notably major depression.