When Using a Standard Costing System,at the End of an Accounting

question 10

Multiple Choice

When using a standard costing system,at the end of an accounting period,the balances in which of the following accounts will be at standard amounts?

• A)Raw materials inventory and Work in process only
• B)Cost of goods sold only
• C)Finished goods and cost of goods sold only
• D)Raw materials,Work in process,Finished goods,and Cost of goods sold

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Definitions:

Excitation Transfer

The process by which arousal from one stimulus can be transferred and interpreted as excitement for another, affecting emotional intensity.

Physiological Arousal State

A condition of heightened physiological activity, involving increased heart rate, sweat production, and alertness, typically as a response to stimuli.

Basic Forms Of Arousal

Fundamental physiological and psychological states of being alert, which can be triggered by stimuli that provoke excitement, fear, or sexual interest.

Excitation Transfer

A psychological theory proposing that arousal from one stimulus can be transferred and added to arousal from a second stimulus, intensifying the response to the second stimulus.