Product Costs Consist of

question 66

Multiple Choice

Product costs consist of

• A) direct materials and direct labor only.
• B) direct materials direct labor and manufacturing overhead.
• C) selling and administrative expenses.
• D) period costs.

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Definitions:

General Security Agreement

A contract that creates a security interest in all assets of the borrower, present and future.

Shareholder's Loan

A loan given to a company by one of its shareholders, typically used for startup or growth financing.

Tort Of Assault

A civil wrong where one person intentionally puts another in fear of imminent harmful or offensive contact.

Relief-From-Oppression Provisions

Legal measures available to protect minority shareholders in a company from unfair treatment or oppressive actions by majority shareholders.