For Each of the Following, Indicate Whether the Cost Would

question 97

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.
-Depreciation on store equipment

• A)Product
• B)Period

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Definitions:

Miscellaneous Expense

Expenses that do not neatly fit into specific categories, often minor in nature and not regularly recurring.

Contra Asset

An account on a company's balance sheet that offsets against an asset account on the same balance sheet.

Miscellaneous Revenue

Income from sources other than the main business activities, such as rental income or interest income.

Cash Over And Short

An account that records the discrepancies between the actual cash received and the expected amount.