Which of the Following Would Be Included in the Journal

question 11

Multiple Choice

Which of the following would be included in the journal entry to record the requisition of indirect materials?

• A) Debit to Manufacturing overhead
• B) Debit to Work in process inventory
• C) Debit to Materials inventory
• D) Debit to Finished goods inventory

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Definitions:

International Financial Reporting Standards

A set of global accounting standards developed by the International Accounting Standards Board for financial reporting.

Financing Cash Flow

Cash flow related to the financing activities of a business, including issuing or buying back shares, debt issuance, and payment of dividends.

Indirect Method

A way to report cash flows from operating activities by starting with net income and adjusting for non-cash transactions.

Accrual Earnings

Earnings that are recognized when revenues are earned and expenses are incurred, not necessarily when cash is received or paid.