A Record of All the Changes in a Particular Asset

question 59

Multiple Choice

A record of all the changes in a particular asset, liability, or stockholders' equity during a period is called a(n) :

• A) transaction.
• B) trial balance.
• C) journal.
• D) account.

---

Definitions:

Machine-Hours

A measure of production time used in manufacturing, calculated by multiplying the number of machines by the hours they are operated.

Machine-Hours

An indicator of the amount of time machines are actively running, reflecting the cumulative hours of operation over a defined timeframe.

Predetermined Overhead Rate

An estimated rate used to assign overhead costs to products or services, based on a relevant activity base.

Manufacturing Overhead

All manufacturing costs other than direct materials and direct labor, including expenses such as rent, utilities, and equipment depreciation.