Period costs include: a. current liabilities on the balance sheet b. operating costs that are shown on the income statement in the period in which they are incurred c. current assets on the balance sheet d. operating costs that are shown on the income statement when the products are sold
Period costs include: a. current liabilities on the balance sheet b. operating costs that are shown on the income statement in the period in which they are incurred c. current assets on the balance sheet d. operating costs that are shown on the income statement when the products are sold
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 1MCQ: Accumulating costs means that a. costs must be summed and entered on the income statement. b. each...
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Question
Period costs include:
a.
current liabilities on the balance sheet
b.
operating costs that are shown on the income statement in the period in which they are incurred
c.
current assets on the balance sheet
d.
operating costs that are shown on the income statement when the products are sold
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