Which of the following statements is true?

a.All recent college graduates are required to work for one of the Big 4 accounting firms for at least a few years.

b.Most accountants that start their careers in public accounting stay there for many years.

c.There are not many accounting jobs in fields such as academia or government.

d.Audit or tax experience is often required in order to be licensed as a CPA.

What is the correct order of the flow of product costs through the inventory system?

a.Work in Process, Finished Goods, Materials Inventory, Cost of Goods Sold

b.Cost of Goods Sold, Work in Process, Materials Inventory, Finished Goods

c.Materials Inventory, Work in Process, Cost of Goods Sold, Finished Goods

d.Materials Inventory, Work in Process, Finished Goods, Cost of Goods Sold

In a job order costing system:

a.Each department accumulates costs and then allocates them to all units produced.

b.The processes involved in manufacturing products are essentially identical for all products.

c.Production generally happens in a "continual flow".

d.The end products are relatively homogenous.

e.None of the above

If direct materials are added at the beginning of a process, the equivalent units completed of direct materials will be:

a.Equal to equivalent units completed of conversion costs

b.Equal to the physical units completed

c.Less than physical units completed

d.None of the above