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Which of the following statements about the Work in Process account is true? Both job-order...

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Accounting

Which of the following statements about the Work in Process account is true?

Both job-order cost and process cost systems use only one Work in Process account.

Both job-order cost and process cost systems use several Work in Process accounts.

Job-order cost systems use several Work in Process accounts, but process cost systems use only one.

Job-order cost systems use only one Work in Process account, but process cost systems use several.

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