Research and development costs are classified as:
A) product costs.
B) period costs.
C) inventoriable costs.
D) cost of goods sold.
E) labor costs.

Name: Research and development costs are classified as: A) product costs. B) period costs. C) inventoriable costs. D) cost of goods sold. E) labor costs.
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Question

Quizplus · Accepted Answer

Research and development costs are classified as period costs because they are expensed in the period in which they are incurred, rather than being capitalized or included in the cost of inventory.

Research and Development Costs Are Classified As