When Are Period Costs Recorded on the Income Statement

question 79

Multiple Choice

When are period costs recorded on the income statement?

• A)when they occur
• B)when the product that they are associated with is sold
• C)at the discretion of management
• D)none of the above

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Definitions:

Chief Justice

The head judge of the Supreme Court in a country, holding the highest judicial position in the judicial branch of government.

John Marshall

The fourth Chief Justice of the United States (1801-1835), whose court opinions helped lay the basis for American constitutional law and made the Supreme Court a coequal branch of government.

National Intelligencer

A newspaper published in Washington D.C. from 1800 to 1870, which became an influential publication in American politics during the early 19th century.