Which of the following is NOT a period cost? Cost of a seminar concerning tax law updates that was attended by the company's controller. Depreciation of factory maintenance equipment Insurance on a company showroom where customers can view new products. Salary of a clerk who handles customer billing.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 5
Which of the following is NOT a period cost?
Cost of a seminar concerning tax law updates that was attended by the company's controller.
O Depreciation of factory maintenance equipment
Insurance on a company showroom where customers can view new products.
Salary of a clerk who handles customer billing.
Transcribed Image Text:Question 5 Which of the following is NOT a period cost? Cost of a seminar concerning tax law updates that was attended by the company's controller. O Depreciation of factory maintenance equipment Insurance on a company showroom where customers can view new products. Salary of a clerk who handles customer billing.
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Cost is the amount of expenditure related to the item such as products, customers, activities, departments, and so on. Costs are bifurcated into two various categories including fixed costs, variable costs, mixed costs, period costs, product costs, and so on. 

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