The cost of maintaining quality control testing equipment would be classified as a(n) ________ cost.

A. appraisal

B. prevention

C. external failure

D. internal failure

Under a perpetual inventory system, the journal entry needed to record the sale of a job includes a

A. debit to Finished Goods Inventory account and credit to Cost of Goods Sold account.

B. debit to Accounts Receivable account and credit to Sales Revenue account.

C. debit to Cost of Goods Sold account and credit to Sales Revenue account.

D. debit to Sales Revenue account and credit to Accounts Receivable account.

Which of the following product costing systems is normally used to assign costs to goods that are

massproduced goods?

A. Process costing

B. LIFO costing

C. Fixed costing

D. Job costing