Which of the Following Is Characteristic of Costing

question 36

Multiple Choice

Which of the following is characteristic of costing?

• A)Actual overhead costs always enter the work-in-process account.
• B)The cost of a job includes direct materials, direct labour, and applied overhead.
• C)When a job is complete, it must leave cost of goods sold and be entered into finished goods or work-in-process.
• D)Direct materials are not included in the job cost.

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Definitions:

Transatlantic Trade

The exchange of goods, services, and capital between countries across the Atlantic Ocean, historically significant for its role in the colonial and post-colonial eras.

English American Colonies

The colonial territories under British rule in North America during the 17th and 18th centuries, which were the foundation for what later became the United States.

Colonial Identity

The sense of belonging or cultural identity formed by inhabitants of colonies, often shaped by the intermingling of indigenous, colonizer, and enslaved peoples' cultures.

French Colonists

Individuals from France who settled in various parts of the world during the periods of French colonial expansion, influencing the culture, religion, and economy of the colonized areas.