Period Costs Are

question 146

Multiple Choice

Period costs are

• A) found on the balance sheet
• B) not involved in the production process
• C) classified as direct labor, direct material, or factory overhead
• D) found on the job order cost sheets

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Definitions:

Voting Stock

Shares that grant the holder the right to vote on company matters, typically influencing board elections and corporate policy.

Cash Dividend

A payment made by a company out of its earnings to its shareholders, usually in the form of cash.

Net Income

The income a company retains following the deduction of all costs and taxes from its total earnings.

Goodwill

An intangible asset that arises when a company acquires another business for more than the value of its tangible and identifiable intangible assets.