Joint Products and By-Products Are Produced Simultaneously by a Single

Multiple Choice

Joint products and by-products are produced simultaneously by a single process or series of processes and:

A) Joint products are salable at the split-off point, but by-products are not.
B) By-products are salable at the split-off point, but joint products are not.
C) The revenue from by-products may be recognized at the time of production.
D) All by-products must be allocated some portion of joint costs.