Question: Question 1: A process costing system has _____ work-in-process accounts. One Three Two as many as there are processes Question 2:To purchase material from a

  1. Question 1: A process costing system has _____ work-in-process accounts.

    1. One

    2. Three

    3. Two

    4. as many as there are processes

    1. Question 2:To purchase material from a vendor, the company would use a

      1. Purchase order

      2. Material requisition

      3. Receiving report

      4. Purchasing requisition

  4. Question 3: A Company that makes standard products (not custom) would use a __________ system.

    1. process costing

    2. job order costing

    3. standard costing

    4. mixed costing

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