Asked by MARIO MURILLO on May 29, 2024
Verified
When a joint production process results in two or more products being produced simultaneously, the products are termed:
A) joint products.
B) split-off products.
C) by-products.
D) separable products.
Joint Products
A scenario in production where a single process yields multiple products simultaneously.
Split-Off Point
The stage in a production process where joint products can be recognized as separate products.
- Analyze joint production processes, allocation of joint costs, and the economic decisions related to further processing or selling at split-off.
Verified Answer
AG
Antoine GaudinMay 29, 2024
Final Answer :
A
Explanation :
Joint products are two or more products that are produced simultaneously during a joint production process. They are generally of equal importance and value, and cannot be separated without incurring significant costs.
Learning Objectives
- Analyze joint production processes, allocation of joint costs, and the economic decisions related to further processing or selling at split-off.
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