Period costs are synonymous with operating expenses A. True B. False
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Q: None
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Q: Fixed costs expressed on a per unit basis:
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Q: QUESTION 1 A "sunk cost" refers to money spent in the past. True False
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Q: These are costs that vary in unit. a• Variable Cost b• Fixed Cost c• Mixed Cost d• Relevant Cost
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Question 9
Period costs are synonymous with operating expenses
A. True
B. False
Step by step
Solved in 2 steps
- Excercise 3.21 Future costs that differ across alternatives are: a. Opportunity costs b. Sunk costs c. Relevant costs d. Variable costsQUESTION 2 Identify on which financial statement these costs originally appear. Period Costs ✓ Product Costs A. Income Statement B. Balance SheetProblem 4 a. What is the difference between relevant, opportunity and sunk costs? b. Why are fixed costs not included in special order decisions? C. What are the steps involved in decision making?
- Period cost is O A. inventoriable cost B. allocated between sold and unsold C. fully expense in the period incurred D. none of the choicesQUESTION 23 Expenses can be categorized by whether the cost incurred is directly related to production or not. If directly related, it will not change with the production level, thus called Fixed Cost. If directly related, it will change with the production level, thus called Fixed Cost. If not directly related, it will not change with the production level, thus called Variable Cost. If not directly related, it will change with the production level, thus called Variable Cost. None of the above is a correct statement.Question 2C Please provide one criticism of the full-cost method of accounting as per the Conceptual Framework.