In Both Merchandising and Manufacturing Accounting, Selling and Administrative Costs

question 92

True/False

In both merchandising and manufacturing accounting, selling and administrative costs are period costs.

---

Definitions:

Supply

The total amount of a product or service that is available for purchase at any given time.

Elastic

Describing a situation in economics where the demand or supply for a good or service significantly changes in response to changes in price.

Tax Rates

The percentage at which an individual or corporation is taxed, which can vary based on income level, type of goods or activities.

Elasticities

Measures of how much the quantity demanded or supplied of a good responds to changes in prices, income, or other factors.