When Materials Are Requested for Production the Cost Is Removed

question 83

Short Answer

When materials are requested for production the cost is removed from ____________ and added to ____________.

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Definitions:

Cash Receipts

Money received by a business during a set accounting period, including revenue from sales, interest, dividends, and other cash inflows.

Voucher System

A control mechanism in accounting to ensure all business transactions are properly authorized and recorded.

Liabilities

A company's legal financial debts or obligations that arise during the course of business operations, to be settled over time through the transfer of economic benefits including money, goods, or services.

Cash Payment

A transaction in which the payment for a good or service is made with cash at the time of purchase.