For Each of the Following, Indicate Whether the Cost Would

question 182

Multiple Choice

For each of the following, indicate whether the cost would typically be considered a product or period cost for the cost object given.
-Salespersons' commissions

• A)Product
• B)Period

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Definitions:

Deliverables

Tangible or intangible outputs or outcomes that must be provided upon completion of a project or task.

Tangible Product

A physical item that can be perceived by touch and is produced for sale or use.

Service

The act of helping or doing work for someone, or a system supplying a public need such as transport, communications, or utilities.

Economic Principles

Fundamental concepts that guide the analysis of economics, including supply and demand, opportunity cost, and market equilibrium.