Inventoriable Costs ________

question 120

Multiple Choice

Inventoriable costs ________.

• A) include administrative and marketing costs
• B) are expensed in the accounting period in which the products are sold
• C) are expensed in the accounting period in which the products are manufactured
• D) are also referred to as nonmanufacturing costs

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Definitions:

Bales

Large bundles or packages of material, most commonly used in reference to agriculture commodities like hay or cotton.

Profit-maximizing

In economics, this refers to the process by which a firm determines the price and output level that returns the greatest profit.

Profit

is the financial gain realized when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Breaks Even

The point at which total costs and total revenue are equal, leading to no net loss or gain for a business.