The Following Transactions Take Place After the Implementation of JIT

question 27

Multiple Choice

The following transactions take place after the implementation of JIT: What will be the entry to record materials placed into production using the backflush approach?

• A) Materials and in Process Inventory 75,000 Work-in-Process Inventory 75,000
• B) Materials Inventory 75,000 Accounts Payable 75,000
• C) Work-in-Process Inventory 75,000 Materials and in Process Inventory 75,000
• D) No entry is required

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Definitions:

Korsakoff Syndrome

A chronic memory disorder primarily caused by severe deficiency of thiamine (vitamin B1), often associated with prolonged alcoholism.

Defensive Coping

A psychological strategy wherein individuals deal with stress or adversity by minimizing its perceived threat or impact to avoid confronting the actual issue.

Self-Deception

The psychological process of denying or rationalizing away the relevance, significance, or truth of contrary evidence or logical argument.

Confrontation

A direct engagement or encounter between parties with conflicting views or goals, often aiming to resolve disagreement.