Under the net realizable value approach,no value is recognized for by-products or scrap until they are actually sold.
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Q18: The point at which individual products are
Q19: Joint costs may be allocated to main
Q20: Joint costs may be allocated to by-products
Q21: Not-for-profit entities are required to allocate joint
Q22: Two incidental products of a joint process
Q24: The net realizable value approach is used
Q25: Joint costs are allocated to which
Q26: If a company obtains two salable products
Q27: Costs that are incurred after the split-off
Q28: Sales revenue at split-off less disposal costs
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