The Easiest Way to Dispose of Variances at the End

question 15

Multiple Choice

The easiest way to dispose of variances at the end of the period is to

• A)Ignore the variances as they will cancel out during the following period.
• B)Close the variances to raw materials inventory.
• C)Close the variances to the appropriate raw materials inventory,work in process inventory,and finished goods inventory accounts.
• D)Close the variances to the cost of goods sold account.

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Definitions:

Group Characteristics

The properties or attributes that define and distinguish a specific group from others.

Income Inequality

A measure of the uneven distribution of income within a population, highlighting the gap between the richest and the poorest.

Causes

The reasons or explanations for an event or phenomenon, indicating a relationship between actions or occurrences.

Labor Market Discrimination

Practices or biases that result in certain groups of people being treated differently in the labor market, which can impact hiring, salaries, job assignments, and promotions.