Which of the following costs are identified directly as expenses of the time period in which they are incurred?
A)Product costs
B)Period costs
C)Both product and period costs
D)Neither product nor period costs
E)Period costs as long as the goods have not been sold

Question

Quizplus · Accepted Answer

Period costs are identified directly as expenses of the time period in which they are incurred. Product costs are allocated to the period in which the goods are sold.

Which of the Following Costs Are Identified Directly as Expenses