Which of the Following Is False Regarding the Process of Attachment

question 44

Multiple Choice

Which of the following is false regarding the process of attachment?

• A) A creditor typically seeks an attachment as a prejudgment remedy in a legal action.
• B) The creditor must file a lawsuit prior to seeking an attachment.
• C) After attachment is complete, the creditor holds the property until judgment.
• D) The court may attach the debtor's personal or real property.
• E) The court may attach the debtor's checking and savings accounts.

---

Definitions:

Process Costing System

An accounting method used to allocate costs to units of production in continuous operations, common in industries like manufacturing and refining.

Units Transferred Out

The quantity of items moved from one stage of production to the next or finished products delivered to customers.

Inventory Valuation Method

Techniques used to assess the cost of a company's inventory which can include FIFO (First-In-First-Out), LIFO (Last-In-First-Out), and weighted average methods.

Cost Control

The process of monitoring and regulating the expenses of a business to adhere to budgets and optimize profitability.