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Find Out the Correct Match of the Following

question 31

Multiple Choice

Find out the correct match of the following:


Definitions:

Direct Materials

Raw materials that can be directly attributed to the production of goods, forming a significant part of the finished product.

Period Costs

Expenses that are not directly tied to the production of goods or services and are charged to the period in which they are incurred, such as selling, general, and administrative expenses.

Balance Sheet

A financial statement that presents a company's financial position at a specific point in time, including assets, liabilities, and equity.

Income Statement

The income statement is a financial report that details a company's revenues, expenses, and profits over a specific period, showing how the net revenue of the business is transformed into net income.

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