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In a Job Order Costing System,a Separate Job Order Cost

question 20

True/False

In a job order costing system,a separate job order cost card is used for each individual job.


Definitions:

Right of Recourse

The legal right to demand compensation or payment from a third party after fulfilling an obligation, especially in financial transactions.

Discharge

(1) The termination of an obligation, such as occurs when the parties to a contract have fully performed their contractual obligations. (2) The termination of a bankruptcy debtor’s obligation to pay debts.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, to the person possessing it.

Intelligence

The ability to acquire and apply knowledge and skills, or information gathered for analysis in contexts such as security or business.

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