Which of the Following Is the Order in Which Cost

question 27

Multiple Choice

Which of the following is the order in which cost elements flow through accounts until they are recognized as an expense?

• A) Work-in-Process, Finished Goods, Cost of Goods Sold
• B) Raw Materials, Work-in-Process, Purchase Returns
• C) Finished Goods, Cost of Goods Sold, Work-in-Process
• D) Work-in-Process, Unsold Goods, Finished Goods

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Definitions:

Interface

A surface forming a common boundary among two different phases, materials, or substances, in various scientific contexts.

Liquefied

Turned into a liquid form, often referring to gases that have been converted to liquid under pressure.

Tsunami

A series of ocean waves with extremely long wavelengths caused by large-scale disturbances of the ocean, such as earthquakes, volcanic eruptions, or underwater landslides.

P-Wave

A type of seismic wave that compresses and expands the ground, being the fastest kind of seismic wave and the first to be recorded by seismographs during an earthquake.