Asked by Khush Bhullar on May 28, 2024
Verified
Goods of low value that are produced from a joint production process are called waste.
Joint Production
A manufacturing process where two or more products are produced simultaneously from the same raw materials or process.
- Grasp the significance of joint products, by-products, and how their costs are treated.
Verified Answer
BZ
Benny ZhuangJun 01, 2024
Final Answer :
False
Explanation :
Goods of low value that are produced from a joint production process are called by-products, not waste. Waste typically refers to materials that are discarded without being put to further use, whereas by-products are secondary products derived from a manufacturing process that still have economic value.
Learning Objectives
- Grasp the significance of joint products, by-products, and how their costs are treated.