Use the Information Below to Answer the Following Question(s)

question 141

Multiple Choice

Use the information below to answer the following question(s) .Frazer Inc.had the following activities in the year:

-Which of the following formulas determine cost of goods sold in a manufacturing entity?

• A)Beginning work-in-process inventory + Cost of goods manufactured - Ending work-in-process inventory = Cost of goods sold
• B)Beginning work-in-process inventory + Cost of goods manufactured + Ending work-in-process inventory = Cost of goods sold
• C)Cost of goods manufactured - Beginning finished goods inventory - Ending finished goods inventory = Cost of goods sold
• D)Cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory = Cost of goods sold
• E)Beginning work-in-process inventory - Cost of goods manufactured + Ending work-in-process inventory = Cost of goods sold

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Definitions:

Maximum Cash Balance

The highest amount of cash that a company aims to hold at any given time.

Internal Control

Protocols and processes designed by a business to secure the authenticity of its financial and accounting information, enhance accountability, and impede fraudulent operations.

Control Environment

The set of standards, processes, and structures that provide the foundation for carrying out internal control across the organization.

Proofs And Security Measures

Protocols and systems implemented to protect data, transactions, and assets against unauthorized access, theft, or modification.