Where would period costs be found on the financial statements?
A)Under current assets on the balance sheet
B)Under current liabilities on the balance sheet
C)As operating expenses on the income statement for a previous period
D)As operating expenses on the income statement in the period incurred

Question

Quizplus · Accepted Answer

Period costs are operating expenses that are incurred during a specific period, such as selling and administrative expenses. Therefore, they would be found as operating expenses on the income statement in the period they were incurred.

Where Would Period Costs Be Found on the Financial Statements