The totals at the end of the year in the inventory process expense accounts reflect
A)all the business conducted during the year
B)only the transactions completed during the year
C)all the transactions recorded during the year
D)only the transactions initiated during the year

Question

Quizplus · Accepted Answer

The totals in the inventory process expense accounts at the end of the year reflect all the transactions recorded throughout the year, including those that may have been initiated in an earlier period and carried over into the current year. Therefore, choice C is the best answer.

The Totals at the End of the Year in the Inventory