Under Which Costing Method(s) Are Administrative and Selling Costs Considered

question 56

Multiple Choice

Under which costing method(s) are administrative and selling costs considered period expenses? I Absorption costing
II Throughput costing
III Variable costing

• A) I and II only
• B) II and III only
• C) I and III only
• D) I, II, and III

Identify the types of financial statements and their characteristics.

Analyze transactions and their effects on business finances.

Understand the effects of different transactions on the accounting equation.

Identify and describe the primary financial statements and their characteristics.

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Definitions:

Organization Structure

The system of tasks, workflows, reporting relationships, and communication channels that link together the work of diverse individuals and groups.

Lines Of Command

The hierarchical structure within an organization that dictates who is in charge of whom and who makes decisions.

Critical Thinking

The ability to evaluate evidence completely and objectively in order to form logical conclusions and make sound recommendations.

Evaluate Evidence

The process of examining and assessing information or data to form a judgment or conclusion.