Which of the following costs appear on a balance sheet?
A) Selling expenses
B) Product Costs
C) Period Costs
D) Opportunity costs

Question

Quizplus · Accepted Answer

Product costs, such as direct materials, direct labor, and manufacturing overhead, are included in inventory and appear on the balance sheet until the products are sold. Selling expenses and period costs (such as salaries, rent, and advertising) are expensed immediately and do not appear on the balance sheet. Opportunity costs are not recorded in financial statements.

Which of the Following Costs Appear on a Balance Sheet