Master files,worksheets,and reports that accumulate material,labour,and overhead as the costs are incurred are
A)accounting system controls.
B)storeroom documents.
C)finished goods inventory records.
D)cost accounting records.

Question

Quizplus · Accepted Answer

Master files, worksheets, and reports that accumulate material, labour, and overhead as the costs are incurred are referred to as cost accounting records. These records help in determining the cost of production and are used by organizations to make informed decisions about pricing, resource allocation, and budgeting. Accounting system controls are procedures and policies that ensure the accuracy and completeness of financial records. Storeroom documents are records that track inventory movements in and out of a warehouse or storeroom. Finished goods inventory records keep track of the quantity and value of finished products held by the company.

Master Files,worksheets,and Reports That Accumulate Material,labour,and Overhead as the Costs