For Each of the Following, Indicate Whether the Cost Would

question 108

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.
-Factory utilities

• A)Product
• B)Period

---

Definitions:

Basic Needs

Essential requirements for human survival and well-being, such as food, water, shelter, and safety.

Minimum Wage

The lowest legal salary that workers can be paid by employers, set by government policy to ensure a basic standard of living for employees.

Protectionism

An economic policy aimed at restricting imports from other countries through tariffs and quotas to protect domestic industries.

World Trade Organization

An international organization designed to supervise and liberalize world trade, by providing a forum for trade negotiations and dispute resolutions.