AUD 3 Internal Control 17 - 1 Operating Cycles - Production and Conversion Cycle

Question 1

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Answer 1

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Question 2

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing ope_______.

Answer 2

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Question 3

Production and Conversion Cycle

The production and conversion cycle deals with man_________ operations.

Answer 3

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Question 4

Production and Conversion Cycle

The production and conversion cycle d___s with manufacturing operations.

Answer 4

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Question 5

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the con____s are similar to those in the purchasing and spending cycle,

Answer 5

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

Question 6

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the pur____ing and spending cycle,

Answer 6

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

Question 7

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and sp___ing cycle,

since inventory may be involved in both cycles,

Answer 7

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

Question 8

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inv______ may be involved in both cycles,

the difference being whether they were manufactured or purchased.

Answer 8

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the difference being whether they were manufactured or purchased.

Question 9

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the diff______ being whether they were manufactured or purchased.

Answer 9

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the difference being whether they were manufactured or purchased.

Question 10

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the difference being whether they were man________ed or purchased.

Answer 10

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the difference being whether they were manufactured or purchased.

Question 11

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the difference being whether they were manufactured or pu_______ed.

Answer 11

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle,

since inventory may be involved in both cycles,

the difference being whether they were manufactured or purchased.

Question 12

Production and Conversion Cycle

The production and con_______ cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Answer 12

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Question 13

Production and Conversion Cycle

The prod_____ and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Answer 13

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Question 14

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are si_____ to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Answer 14

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Question 15

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the co______s are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Answer 15

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Question 16

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the pur_____ing and sp___ing cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Answer 16

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Question 17

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in b__h cycles, the difference being whether they were manufactured or purchased.

Answer 17

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Question 18

What cycles is inventory maybe involved in?

Answer 18

What cycles is inventory maybe involved in?

Answer:

(1) Purchasing cycle
(2) Spending cycle

Question 19

Why most of the controls in the “production and conversion cycle” are similar to those in the purchasing and spending cycle?

Answer 19

Why most of the controls in the “production and conversion cycle” are similar to those in the purchasing and spending cycle?

Answer: Most of the controls in the “production and conversion cycle” are similar to those in the purchasing and spending cycle,

because inventory may be involved in both purchasing and spending cycles,

Question 20

What cycles is inventory maybe involved in?

Answer:

(1) P______ing cycle
(2) Spending cycle

Answer 20

What cycles is inventory maybe involved in?

Answer:

(1) Purchasing cycle
(2) Spending cycle

Question 21

What cycles is inventory maybe involved in?

Answer:

(1) Purchasing cycle
(2) Sp___ing cycle

Answer 21

What cycles is inventory maybe involved in?

Answer:

(1) Purchasing cycle
(2) Spending cycle

Question 22

What cycles is inventory maybe involved in?

Answer:

(1) P________ cycle
(2) S_______ cycle

Answer 22

What cycles is inventory maybe involved in?

Answer:

(1) Purchasing cycle
(2) Spending cycle

Question 23

Why most of the controls in the “production and conversion cycle” are similar to those in the purchasing and spending cycle?

Because inventory may be involved in both __________ and _________ cycles,

Answer 23

Why most of the controls in the “production and conversion cycle” are similar to those in the purchasing and spending cycle?

Answer: Most of the controls in the “production and conversion cycle” are similar to those in the purchasing and spending cycle,

because inventory may be involved in both purchasing and spending cycles,

Question 24

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were man_______ed or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Answer 24

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Question 25

Production and Conversion Cycle

Acq______ of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Answer 25

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 26

Production and Conversion Cycle

Acquisition of, and ac_______ing for, raw materials purchased in a manufacturing process

Answer 26

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

Question 27

Production and Conversion Cycle

Acquisition of, and accounting for, r__ materials purchased in a manufacturing process

Answer 27

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

Question 28

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials pur____ed in a manufacturing process

Answer 28

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

Question 29

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a man______ing process

Answer 29

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

Question 30

Production and Conversion Cycle

Acquisition of, and accounting for, raw m_______ls purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Answer 30

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 31

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing pro____

would be similar to merchandise inventory in a nonmanufacturing entity.

Answer 31

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 32

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be si_____ to merchandise inventory in a nonmanufacturing entity.

Answer 32

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 33

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merc________ inventory in a nonmanufacturing entity.

Answer 33

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 34

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inv______ in a nonmanufacturing entity.

Answer 34

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 35

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonman________ing entity.

Answer 35

Production and Conversion Cycle

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to merchandise inventory in a nonmanufacturing entity.

Question 36

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acq________ of, and acc________ for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Answer 36

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Question 37

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merc________ inventory in a nonmanufacturing entity.

Answer 37

Production and Conversion Cycle

The production and conversion cycle deals with manufacturing operations.

Most of the controls are similar to those in the purchasing and spending cycle, since inventory may be involved in both cycles, the difference being whether they were manufactured or purchased.

Acquisition of, and accounting for, raw materials purchased in a manufacturing process would be similar to merchandise inventory in a nonmanufacturing entity.

Question 38

MFG Non MFG

Purchase Purchase
Raw Materials = ______ Inventory

Answer 38

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 39

MFG Non MFG

Purchase Purchase
___ Materials = Merchan. Inventory

Answer 39

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 40

MFG Non MFG

Purchase Purchase
Raw M_______ = Merchan. Inventory

Answer 40

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 41

MFG Non MFG

Purchase Purchase
Raw Materials = Merchan. In_________

Answer 41

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 42

MFG Non MFG

Purchase Purchase
= Mercha. Inventory

Answer 42

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 43

MFG Non MFG

Purchase Purchase
Raw Materials = Merchand. _____

Answer 43

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 44

MFG Non MFG

Purchase Purchase
Raw Materials = ______ Inventory

Answer 44

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 45

MFG Non MFG

Purchase Purchase
Raw ______ = Mercha. Inventory

Answer 45

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 46

MFG Non MFG

Purchase Purchase
Raw Materials =

Answer 46

MFG Non MFG

Purchase Purchase
Raw Materials = Merchandise Inventory

Question 47

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 47

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 48

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure – Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.
• Existence or Occurrence – Perpetual inventory records are compared with goods on hand.
• Completeness and Cutoff – Forms used for material requisitions are prenumbered and periodically accounted for.
• Valuation, Allocation and Accuracy – Subsidiary records are periodically reconciled to inventory control accounts.

Answer 48

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure – Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.
• Existence or Occurrence – Perpetual inventory records are compared with goods on hand.
• Completeness and Cutoff – Forms used for material requisitions are prenumbered and periodically accounted for.
• Valuation, Allocation and Accuracy – Subsidiary records are periodically reconciled to inventory control accounts.

Question 49

Production and Conversion Cycle

Examples of controls related to the management as_______s for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 49

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 50

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured in______ry include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 50

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 51

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• P__________ and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 51

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 52

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and D_________
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 52

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 53

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• E________ or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 53

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 54

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or O_________
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 54

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 55

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• C___________ and Cutoff
• Valuation, Allocation and Accuracy

Answer 55

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 56

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and C______
• Valuation, Allocation and Accuracy

Answer 56

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 57

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• V_______, Allocation and Accuracy

Answer 57

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 58

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, A_________ and Accuracy

Answer 58

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 59

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and A_________

Answer 59

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Question 60

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• P__________ and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

Answer 60

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 61

Production and Conversion Cycle

• Presentation and D_________

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Answer 61

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 62

Production and Conversion Cycle

• Presentation and Disclosure

– Direct la___ charged to individual time tickets

Answer 62

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets

Question 63

Production and Conversion Cycle

• Presentation and Disclosure

– Dir___ labor charged to individual time tickets

Answer 63

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets

Question 64

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor ch___ed to individual time tickets

Answer 64

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets

Question 65

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual ti__ tickets

Answer 65

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets

Question 66

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to ind_______ time tickets

Answer 66

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets

Question 67

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tic___s is compared to the total direct labor

Answer 67

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor

Question 68

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct la___ charged to work-in-process,

Answer 68

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

Question 69

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is com____d to the total direct labor charged to work-in-process,

Answer 69

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

Question 70

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the t___l direct labor charged to work-in-process,

Answer 70

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

Question 71

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total dir___labor charged to work-in-process,

Answer 71

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

Question 72

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor ch___ed to work-in-process,

Answer 72

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

Question 73

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to w__k-in-process (WIP),

Answer 73

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

Question 74

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-pro____ (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Answer 74

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 75

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to ma_________ing overhead.

Answer 75

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 76

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor c___s have not been charged to manufacturing overhead.

Answer 76

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 77

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing over___d.

Answer 77

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 78

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have n__ been charged to manufacturing overhead.

Answer 78

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 79

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been ch___ed to manufacturing overhead.

Answer 79

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 80

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

DL in time tickets
compared with
DL in WIP

so no DL in MFG overhead

Answer 80

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process (WIP),

in order to ensure direct labor costs have not been charged to manufacturing overhead.

DL in time tickets
compared with
DL in WIP

so no DL in MFG overhead

Question 81

Production and Conversion Cycle

• Presentation and Disclosure

DL in time tickets
compared with
DL in WIP

so no DL in MFG overhead

Answer 81

Production and Conversion Cycle

• Presentation and Disclosure

DL in time tickets
compared with
DL in WIP

so no DL in MFG overhead

Question 82

Production and Conversion Cycle

• Presentation and Disclosure

– Direct la___ charged to individual time tickets is compared to the total direct la___charged to work-in-process, in order to ensure direct la___ costs have not been charged to manufacturing overhead.

Answer 82

Production and Conversion Cycle

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 83

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Answer 83

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 84

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual in________ records are compared with goods on hand.

Answer 84

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 85

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory re____s are compared with goods on hand.

Answer 85

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 86

Production and Conversion Cycle

• Existence or Occurrence

– Per_______ inventory records are compared with goods on hand.

Answer 86

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 87

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are co_____ed with goods on hand.

Answer 87

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 88

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on h__d.

Answer 88

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 89

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Answer 89

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Question 90

Perpetual in______y is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Answer 90

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Question 91

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of in______ry immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Answer 91

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Question 92

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory im_______ly

through the use of computerized point-of-sale systems and enterprise asset management software.

Answer 92

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Question 93

P_________ inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Answer 93

Perpetual inventory is a method of accounting for inventory

that records the sale or purchase of inventory immediately

through the use of computerized point-of-sale systems and enterprise asset management software.

Question 94

Production and Conversion Cycle

• E________ or Occurrence

– Perpetual inventory records are compared with goods on hand.

Answer 94

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 95

Production and Conversion Cycle

• Existence or O_________

– Perpetual inventory records are compared with goods on hand.

Answer 95

Production and Conversion Cycle

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 96

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Existence or Occurrence
– Perpetual inventory records are compared with g__ds on hand.

• Completeness and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

Answer 96

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Existence or Occurrence
– Perpetual inventory records are compared with goods on hand.

• Completeness and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 97

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• C__________ and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

Answer 97

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Completeness and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 98

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Answer 98

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 99

Production and Conversion Cycle

• Completeness and Cutoff

– F___s used for material requisitions are prenumbered

Answer 99

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered

Question 100

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for ma_______ requisitions are prenumbered

Answer 100

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered

Question 101

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenum___ed and periodically accounted for.

Answer 101

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 102

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and pe_______lly accounted for.

Answer 102

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 103

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically acc____ed for.

Answer 103

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 104

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material req_______s are prenumbered and periodically accounted for.

Answer 104

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 105

Production and Conversion Cycle

• Completeness and Cutoff

– Forms u__d for material requisitions are prenumbered and periodically accounted for.

Answer 105

Production and Conversion Cycle

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 106

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Completeness and Cutoff
– Forms used for material requisitions are pre________ed and periodically accounted for.

• Valuation, Allocation and Accuracy
– Subsidiary records are periodically reconciled to inventory control accounts.

Answer 106

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Completeness and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

• Valuation, Allocation and Accuracy
– Subsidiary records are periodically reconciled to inventory control accounts.

Question 107

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• V________, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Answer 107

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 108

Production and Conversion Cycle

• Valuation, A_________ and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Answer 108

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 109

Production and Conversion Cycle

• Valuation, Allocation and A________

– Subsidiary records are periodically reconciled to inventory control accounts.

Answer 109

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 110

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary re____s are periodically reconciled to inventory control accounts.

Answer 110

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 111

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– S_____iary records are periodically reconciled to inventory control accounts.

Answer 111

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 112

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are per______ly reconciled to inventory control accounts.

Answer 112

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 113

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically re____iled to inventory control accounts.

Answer 113

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 114

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to in________ control accounts.

Answer 114

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 115

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory con____ accounts.

Answer 115

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 116

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control ac______s.

Answer 116

Production and Conversion Cycle

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 117

Production and Conversion Cycle

Examples of co_____s related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Presentation and Disclosure
– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

• Existence or Occurrence
– Perpetual inventory records are compared with goods on hand.

• Completeness and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

• Valuation, Allocation and Accuracy
– Subsidiary records are periodically reconciled to inventory control accounts.

Answer 117

Production and Conversion Cycle

Examples of controls related to the management assertions for manufactured inventory include:

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

• Presentation and Disclosure
– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

• Existence or Occurrence
– Perpetual inventory records are compared with goods on hand.

• Completeness and Cutoff
– Forms used for material requisitions are prenumbered and periodically accounted for.

• Valuation, Allocation and Accuracy
– Subsidiary records are periodically reconciled to inventory control accounts.

Question 118

What does production and conversion cycle deal with?

Answer 118

What does production and conversion cycle deal with?

Answer: Manufacturing Operations

The production and conversion cycle deals with manufacturing operations

Question 119

What cycles that most controls in production and conversion cycle are similar to?

Answer 119

What cycles that most controls in production and conversion cycle are similar to?

Answer: Purchasing and Spending cycle

Most of the controls are similar to those in the purchasing and spending cycle

Question 120

What is the difference of inventory between “purchasing and spending cycle” and “production and conversion cycle”?

Answer 120

What is the difference of inventory between purchasing and spending cycle and production and conversion cycle?

Answer: Whether inventory is manufactured or purchased

Differences

Purchased inventory –> purchasing and spending cycle

vs

Manufactured inventory –> production and conversion cycle

Question 121

Inventory Difference

Purchasing and spending cycle –> Purchased inventory

vs

Production and conversion cycle –> Manufactured inventory

Answer 121

Inventory Difference

Purchasing and spending cycle –> Purchased inventory

vs

Production and conversion cycle –> Manufactured inventory

Question 122

Inventory may be involved in both cycles,
(purchasing and spending cycle)

the difference being whether inventory were manufactured or purchased.

Production and conversion cycle –> Manufactured inventory

Purchasing and spending cycle –> Purchased inventory

Answer 122

Inventory may be involved in both cycles,
(purchasing and spending cycle)

the difference being whether inventory were manufactured or purchased.

Production and conversion cycle –> Manufactured inventory

Purchasing and spending cycle –> Purchased inventory

Question 123

“Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process.”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 123

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 124

“Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process,

in order to ensure direct labor costs have not been charged to manufacturing overhead.”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 124

• Presentation and Disclosure

– Direct labor charged to individual time tickets is compared to the total direct labor charged to work-in-process, in order to ensure direct labor costs have not been charged to manufacturing overhead.

Question 125

“Subsidiary records are periodically reconciled to inventory control accounts.”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 125

• Valuation, Allocation and Accuracy

– Subsidiary records are periodically reconciled to inventory control accounts.

Question 126

“Forms used for material requisitions are prenumbered”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 126

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 127

“Forms used for material requisitions are periodically accounted for.”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 127

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 128

“Forms used for material requisitions are prenumbered and periodically accounted for.”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 128

• Completeness and Cutoff

– Forms used for material requisitions are prenumbered and periodically accounted for.

Question 129

“Perpetual inventory records are compared with goods on hand.”

Examples of controls related to the management assertions for manufactured inventory above referred to which of the following?

• Presentation and Disclosure
• Existence or Occurrence
• Completeness and Cutoff
• Valuation, Allocation and Accuracy

Answer 129

• Existence or Occurrence

– Perpetual inventory records are compared with goods on hand.

Question 130

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

____________ inventory in a nonmanufacturing entity.

Answer 130

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 131

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a ________________ entity.

Answer 131

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 132

Acquisition of, and accounting for, ___ materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 132

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 133

Acquisition of, and accounting for, raw __________ purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 133

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 134

Acquisition of, and accounting for, raw materials purchased in a ____________ process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 134

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 135

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise __________ in a nonmanufacturing entity.

Answer 135

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 136

__________ of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 136

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 137

Acquisition of, and _________ for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 137

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 138

Acquisition of, and accounting for, raw materials _________ in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 138

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 139

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing _____.

Answer 139

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 140

Acquisition of, and accounting for, raw materials purchased in a manufacturing _______

would be similar to

merchandise inventory in a nonmanufacturing entity.

Answer 140

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.

Question 141

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be ______ to

merchandise inventory in a nonmanufacturing entity.

Answer 141

Acquisition of, and accounting for, raw materials purchased in a manufacturing process

would be similar to

merchandise inventory in a nonmanufacturing entity.