Which of the Following Is Not a Duty of the Cost

question 37

Multiple Choice

Which of the following is not a duty of the cost accountant in a process cost system?

• A)Estimating the stage of completion of in-process units at the end of the month.
• B)Collecting the periodic production costs.
• C)Preparing the journal entries to record the factory operations.
• D)Computing the amount of equivalent units.

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Definitions:

Variable Cost

Outlays that shift in alignment with the quantity of output generated.

Discount Rate

The interest rate used to discount future cash flows of a financial instrument back to their present value, thus reflecting the cost of capital.

Initial Cost

The upfront expense incurred to purchase an asset or start a project, including all relevant expenses.

Cash Inflows

Money coming into a business, typically from operations, financing, or investing activities; crucial for maintaining liquidity.