What are costs that are expensed when incurred called?

Question

Quizplus · Accepted Answer

Period costs are costs that are expensed when incurred, rather than being included in the cost of a product or asset. These costs are typically related to a particular period of time, such as a month or a year, and are not directly tied to the production or sale of a specific product. Examples of period costs include rent, salaries and wages, advertising and marketing expenses, and office supplies.

What Are Costs That Are Expensed When Incurred Called