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Chapters 1-4 The Accounting Cycle
Chapters 5-8 Current Assets
Chapters 9-11 Long-Term Assets
Chapters 12-14 Liabilities/Equities
Chapters 15-16 Using Information
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20 Managerial/Cost
Chapters 21-24 Budgeting/Decisions

Chapter 20 - Fill in the Blanks

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Question 1 of 9

1. Question
The ____________ system is often employed in steel, petroleum, chemical, and other similar types of industries.
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Question 2 of 9

2. Question
In a process costing system, costs are accumulated by ____________or ____________ for a specified period of time.
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Question 3 of 9

3. Question
One of the first steps in preparing a cost of production report is to analyze the ____________ of goods.
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4. Question
____________ is the cost to to convert raw material into finished products; more specifically, the sum of direct labor and factory overhead.
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Question 5 of 9

5. Question
Equivalent units should be separately calculated for ____________ and ____________.
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Question 6 of 9

6. Question
Before recording the cost of completed units, the ____________ account should have a balance equal to the total costs accounted for on the production cost report.
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Question 7 of 9

7. Question
____________ costs are expensed under traditional costing methods, but may partially be allocated to individual products under activity-based costing.
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Question 8 of 9

8. Question
The identification of activities is facilitated by dividing business processes into levels. These levels include: ____________, ____________, ____________, ____________ , ____________, or ____________.
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Question 9 of 9

9. Question
From a conceptual point of view, cost objects drive the need for ____________ and activities consume ____________.
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Illustrative Entries

Examples of journal entries for numerous sample transactions

Account Types

Typical financial statement accounts with debit/credit rules and disclosure conventions

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Includes financial and managerial terms

Time Value of Money

Future and present value tables

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Chapters 1-4
Chapters 5-8
Chapters 9-11
Chapters 12-14
Chapters 15-16
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20
Chapters 21-24
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