For Each Item Below Indicate the Source Documents That Would

question 54

Short Answer

For each item below indicate the source documents that would most likely authorize the journal entry in a job-costing system.
A)labour time card
B)job-cost record
C)materials requisition record
D)purchase invoice
E)sales invoice
F)labour time card
-direct materials purchased

• A)labour time card
• B)job-cost record
• C)materials requisition record
• D)purchase invoice
• E)sales invoice
• F)labour time card
• -direct materials purchased

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Definitions:

Government Backing

Support or endorsement provided by a government, which can include financial guarantees, subsidies, or other forms of assistance.

Ordinary Course

Actions and transactions that are routine or normal for a particular business or industry, typically excluding extraordinary or unusual activities.

Security Interest

A legal claim or lien on collateral that gives a lender the right to repossession if the borrower defaults on the agreement.

Legal Enforceability

The characteristic of a contract or agreement that allows it to be upheld or compelled by law.