A Home Builder Just Completed the Construction of a New $\begin{array} { l } \text {Work-In-Process Inventory }&\$200,000\\& \text { Direct Materials Inventory}&\$200,000\\\end{array}$

question 121

Multiple Choice

A home builder just completed the construction of a new home.The home builder uses job-order costing.Costs of $200,000 were incurred to construct the home.The home is ready for sale and is listed with a real estate broker.Which of the following journal entries is necessary when the home is completed?

• A) \(\begin{array} { l }
• \text {Work-In-Process Inventory }&\$200,000\\
• & \text { Direct Materials Inventory}&\$200,000\\
• \end{array}\)
• B) \(\begin{array} { l }
• \text { Finished Goods Inventory}&\$200,000\\
• & \text { Direct Materials Inventory}&\$200,000\\
• \end{array}\)
• C) \(\begin{array} { l }
• \text { Finished Goods Inventory}&\$200,000\\
• & \text { Work-In-Process Inventory}&\$200,000\\
• \end{array}\)
• D) \(\begin{array} { l }
• \text {Cost of Goods Sold }&\$200,000\\
• & \text {Finished Goods Inventory }&\$200,000\\
• \end{array}\)

Recognize and describe various techniques employed by interest groups to influence government decisions, including the roles of lobbyists.

Identify the historical context and evolution of laws regulating lobbying and interest group activities.

Analyze the importance and implications of political endorsements by interest groups.

Explain the impact of interest group attributes (e.g., leadership, membership engagement) on their power and effectiveness.

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Definitions:

U.S. Households

Refers to living arrangements or economic units in the United States consisting of one or more people who occupy a housing unit.

Informational Efficiency

A characteristic of financial markets where all relevant information is quickly and accurately reflected in security prices, allowing for fair and efficient trading.

Active Trading

The buying and selling of securities with the intent of profiting from short-term price movements.

Securities Analysts

Securities Analysts are professionals who evaluate and report on the potential of investments, including stocks, bonds, and other securities.