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:

Mandamus

A judicial remedy in the form of an order from a court to a government official, body, or lower court, requiring them to perform a mandatory or purely ministerial duty correctly.

Natural Justice

The principle of fairness in legal processes, ensuring all parties have a fair chance to present their case.

Privative Clauses

Provisions in law that limit the ability of a court to review decisions made by administrative bodies, aiming to reduce judicial interference.

Fair Hearing

A judicial or administrative procedure that ensures an individual's rights are respected by giving them a chance to present their case and to hear and respond to any evidence against them.