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Which statement about acids and bases is FALSE?
Selling Expense
Costs incurred to secure customer orders and deliver the finished product to the customer, including advertising and sales staff salaries.
Product Costs
Costs that are incurred to acquire or manufacture a product, including direct materials, direct labor, and manufacturing overhead.
Depreciation
The reduction in the value of an asset over time due to wear and tear, usage, or obsolescence, this concept is often used in accounting to allocate the cost of an asset over its useful life.
Factory Equipment
The machinery and tools used in the manufacturing process within a factory setting.
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