Just-In-Time Costing Systems Use Three Inventory Accounts: Raw Materials Inventory,Work-In-Process

question 57

True/False

Just-in-time costing systems use three inventory accounts: Raw Materials Inventory,Work-in-Process Inventory and Finished Goods Inventory.

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Definitions:

Access Macro

A series of actions or commands that are stored and can be run automatically in Microsoft Access to automate repetitive tasks.

If Statement

A programming condition that executes a specific sequence of statements only if a certain condition is true.

Else

A part of conditional statements in programming that specifies what action to take when the condition in an if statement is not met.

Else If

A conditional statement in programming that specifies a new condition to test if the previous condition(s) is false.