A Document in a Job Order Cost Accounting System That

question 116

Multiple Choice

A document in a job order cost accounting system that is used to record the costs of producing a job is a(n) :

• A) Job cost sheet.
• B) Job lot.
• C) Finished goods summary.
• D) Process cost system.
• E) Units-of-production sheet.

---

Definitions:

Equity of Redemption

The right of a mortgagor to reclaim property in the process of foreclosure by paying the debt owed.

Debtor

An individual or entity that owes money to another; the opposite party in these transactions is known as a creditor.

Mortgagor

The borrower in a mortgage agreement, who pledges the property as security for the repayment of the loan.

Mortgagee

The lender in a mortgage agreement, typically a bank or financial institution, that has the legal rights to the property as security for the loan provided.