$26$

Which of the following statements is true?

Multiple Choice

$01$:$53$:$40$

A process costing system will have a single Work in Process Inventory account.

A process costing system will have a separate Work in Process Inventory account for each of the major processes.

A job costing system will have a separate Work in Process Inventory account for each of the major processes.

A process costing system will have a separate Raw Materials Inventory account for each of the major processes.