If work-in-process units are incomplete,the costs remain in Work-in-Process Inventory and are reported on the balance sheet.

Name: If work-in-process units are incomplete,the costs remain in Work-in-Process Inventory and are reported on the balance sheet.
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Quizplus · Accepted Answer

This is true, as work-in-process units that are incomplete are part of the Work-in-Process Inventory account and are reported as an asset on the balance sheet until they are completed and transferred to finished goods inventory.

If Work-In-Process Units Are Incomplete,the Costs Remain in Work-In-Process Inventory