Examlex
Which of the following statements is NOT true?
Raw Materials Cost
The total expense associated with the raw materials used in the production of goods or services.
Administrative Expense
Costs related to the general administration of a business, such as salaries of executive officers and costs of general services.
Estimated
An approximate calculation or judgment of a value, number, or quantity, based on limited information.
Selling and Administrative Expense
Overheads related to the selling of products and the management of an organization.
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