Which of the Following Characteristics Applies to Process Costing, but Does

question 47

Multiple Choice

Which of the following characteristics applies to process costing, but does not apply to job order costing?

• A) The need for averaging
• B) The use of equivalent units
• C) Separate, identifiable jobs
• D) The use of predetermined overhead rates

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Definitions:

U.S.GAAP

U.S.GAAP stands for United States Generally Accepted Accounting Principles, which are a set of accounting standards used for financial reporting in the U.S.

Accounts Receivable

Funds that customers owe a company for products or services already received but not yet paid for.

Allowance for Uncollectible Accounts

A contra-asset account that represents the amount of receivables a company does not expect to collect.

Accounts Receivable

Monies owed to a business by its customers for goods or services delivered or used but not yet paid for.