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______________ Specifies When the Labor,equipment and Facilities Are Needed to Produce

question 90

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______________ specifies when the labor,equipment and facilities are needed to produce a good or to provide a service.


Definitions:

Credit Memorandum

Increase in depositor’s balance.

Original Price

The initial selling price of a good or service before any discounts, deductions, or adjustments are applied.

Debit Memorandum

Decrease in depositor’s balance.

Perpetual Inventory Method

A system of inventory management where adjustments to inventory records are made on a continuous basis as sales and purchases happen.

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