When a Job Is Completed but Not Sold, the Accounts

question 151

Multiple Choice

When a job is completed but not sold, the accounts affected are

• A) Raw Materials and Work-in-Process.
• B) Work-in-Process and Finished Goods.
• C) Work-in-Process and Cost of Goods Sold.
• D) Finished Goods and Cost of Goods Sold.
• E) Finished Goods and Overhead Control.

---

Definitions:

Raw Materials

Basic, unprocessed resources used in the production of goods and services, such as minerals, forest products, and agricultural items.

Indentured Servitude

A labor system where people paid for their passage to the New World by working for an employer for a fixed term of years.

Enslaved Labor

The forced work that individuals must perform without consent and for no pay, often under threat of punishment.

Chesapeake

A geographical area in the United States known for the Chesapeake Bay, an estuary lying inland from the Atlantic Ocean, surrounded by Maryland and Virginia.