Which of the Following Costs Are Included in the Cost

question 71

Multiple Choice

Which of the following costs are included in the cost classification that is based on the time frame perspective?

• A)Variable cost and fixed cost.
• B)Direct cost and indirect cost.
• C)Product cost and period cost.
• D)Committed cost and discretionary cost.

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Definitions:

Organizational Objectives

The established goals that guide a company or organization's activities and direction, aimed at achieving overall success and fulfillment of its mission.

Cost Containment

Strategies or approaches implemented to control, reduce, or maintain the level of expenses.

Production Targets

Specific goals or quotas set for the amount of goods or services to be produced within a certain timeframe.

Performance Efficiency

Measures how well an individual, group, or organization uses resources to achieve objectives with minimum waste.