Match each of the following phrases with the term that it most closely describes it. Each term will be used only once. a. Prepared when materials that have been ordered are received and inspected
b. Serve as the basis for recording direct labor on a job cost sheet
c. These make up the work in process subsidiary ledger
d. The process by which factory overhead is assigned to a cost object
e. Serve as the basis for recording materials used

1. Cost allocation
2. Job Cost sheet
3. Receiving Sheet
4. Time tickets
5. Materials requisitions

a. Receiving Sheet.

b. Time tickets.

c. Job Cost sheet.

d. Cost allocation.

e. Material requisitions.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.

Basically, the financial statements are the formally written records of the business and financial activities of a business entity or organization which includes;

a. Receiving Sheet: prepared when materials that have been ordered are received and inspected.

b. Time tickets: serve as the basis for recording direct labor on a job cost sheet.

c. Job Cost sheet: these make up the work in process subsidiary ledger.

d. Cost allocation: the process by which factory overhead is assigned to a cost object.

e. Material requisitions: serve as the basis for recording materials used.

a

explanation:

reducti0n

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the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.