Which of the following categories of expenses is subject to immediate recognition on the income statement?
A) Utilities expense for the production line of a manufacturer
B) Repairs and maintenance expense incurred on production equipment of a manufacturer
C) The salary of the production foreman
D) The salary of the company president

Question

Quizplus · Accepted Answer

The salary of the company president is considered a period cost and is expensed immediately on the income statement, as it is not directly tied to the production process.

Which of the Following Categories of Expenses Is Subject to Immediate