Question 1
If scrap, common to all jobs, is returned to the storeroom, the journal entry is ________.
◦ Accounts Receivable
Materials Control
◦ Materials Control
Work-in-Process Control
◦ Work-in-Process Control
Materials Control
◦ Materials Control
Manufacturing Overhead Control
Question 2
In accounting for scrap, which of the following statements is true?
◦ Normal scrap is accounted for separately from abnormal scrap.
◦ In accounting for scrap, there is no distinction between the scrap attributable to a specific job and scrap common to all jobs.
◦ Initial entries to scrap accounting records are most often made in dollar terms.
◦ Scrap records not only help measure efficiency, but also help keep track of scrap, and so reduce the chances of theft.
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
True Friendship
Which of the following statements is true of linkage?
Accounting
Development Accounting
Accounting Question