Which of the Following Statements Is TRUE

question 69

Multiple Choice

Which of the following statements is TRUE?

• A)Product costs and period costs are the same.
• B)Inventoriable costs are expensed as incurred according to ASPE/IFRS.
• C)Inventoriable costs are costs that remain in inventory after the product is sold.
• D)"Product costs" refers to the particular costs allocated to a product to make a specific decision.
• E)Conversion costs are non-manufacturing costs.

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Definitions:

Macronucleus

A large nucleus found, along with one or several micronuclei, in ciliates. The macronucleus regulates metabolism and growth. Compare with micronucleus.

Ciliates

A group of protozoans characterized by the presence of hair-like structures called cilia, used for movement and feeding.

Diplomonads

Small, mostly parasitic excavates with one or two nuclei, no functional mitochondria, and one to four flagella.

Excavates

Flagellated unicellular protists, many of which have a deep (excavated) oral groove; include diplomonds, parabasilids, and euglenoids.