When Units Are Moved from One Processing Department to the Next

question 1

Multiple Choice

When units are moved from one processing department to the next, the cost associated with those units must also be moved from one WIP account to the next. What are these costs called?

• A)Transported costs
• B)Transmitted costs
• C)Transferred costs
• D)Conveyed costs

Learn about the operational costs associated with banking services.

Identify the process through which money is created in the banking system.

Recognize the measures implemented to deter bank panics.

Understand the principles of fractional reserve banking.

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Definitions:

Cheques

A document that is written, dated, and signed, which gives an absolute command to a bank to pay a specific amount of money to the recipient.

Bank Clearing Time

The process and time required for checks and other transactions to be processed through a bank or clearinghouse and the funds to become available.

Processing Time

The time required to complete a particular process, such as manufacturing or data processing.

Weighted Average Delay

The mean delay time, taking into account the importance or weight of each contributing factor to the overall delay.