Which of the following best describes scrap?
A) units of production that do not meet the specifications required by customers but that are subsequently repaired and sold as good finished units
B) products of a joint production process that have low total sales values relative to the total sales value of the main product
C) residual material that results from manufacturing a product
D) units of production whether fully or partially completed, that do not meet the specifications required by customers for good units and are discarded or sold at reduced prices

Question

Quizplus · Accepted Answer

Scrap refers to the residual material that results from manufacturing a product, such as leftover metal or plastic. It cannot be used to make a finished product and is typically sold for its scrap value. Choices A, B, and D do not accurately describe the concept of scrap.

Which of the Following Best Describes Scrap