Answer the Following Question(s)using the Information Below

question 79

Multiple Choice

Answer the following question(s) using the information below:
Complete Microfilm Products manufactures microfilm cameras.For October there were no beginning inventories of direct materials, and no beginning or ending work-in-process.Only one indirect manufacturing cost category is currently in use, "Conversion Costs." Journal entries are recorded when materials are purchased and when units are sold using backflush costing.
-Criticism of backflush accounting included all of the following EXCEPT

• A)WIP exists but is not recorded.
• B)ASPE/IFRS is not followed for external reporting purposes.
• C)there is an absence of audit trails.
• D)the accounting system cannot pinpoint the uses of resources.
• E)managers can keep track of operations by personal observation.

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Definitions:

Sparklines Group

A feature in Microsoft Excel that allows users to create small, word-sized charts within cells to visually represent data trends.

Insert Tab

A section in software applications, typically found in a ribbon or toolbar, that provides quick access to tools for adding various elements like images, tables, or charts to documents.

Data Labels

Textual identifiers that provide additional information about a data point in a chart or graph.

Chart Elements

The individual components that make up a chart, such as the title, legend, axes, data series, and labels.