Product Costs Are Also Called

question 145

Multiple Choice

Product costs are also called

• A) direct costs.
• B) overhead costs.
• C) inventoriable costs.
• D) capitalizable costs.

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Definitions:

R&D

Research and Development, which refers to the activities companies undertake to innovate and introduce new products or services.

Innovation

The process of translating an idea or invention into a good or service that creates value and for which customers will pay.

Oligopolists

Firms or entities that dominate an industry or market in an oligopoly, where a small number of companies have significant market power and influence over prices and output.

R&D

Research and development; activities undertaken by companies or governments to innovate and introduce new products or services.