What Are Costs That Are Expensed When Incurred Called

question 43

Multiple Choice

What are costs that are expensed when incurred called?

• A)Incurred costs
• B)Accrued costs
• C)Period costs
• D)Product costs

---

Definitions:

Donee Beneficiaries

Third-party beneficiaries for whom a contract is made to benefit as a gift, giving them the right to enforce the contract against the promisor.

Assigned Donees

Individuals or entities designated to receive specific gifts or donations.

Donee Beneficiary

In contract law, a third party who benefits from a contract between two other parties, particularly when the benefit was intended as a gift.

Promisee

The person to whom a promise or commitment is made, especially in the context of a contractual agreement.