In a Manufacturing Company,________

question 77

Multiple Choice

In a manufacturing company,________.

• A) inventoriable costs only become an expense when the company sells the inventory
• B) inventoriable costs become an expense as soon as the company finishes manufacturing the product
• C) there is only one inventory account
• D) period expenses are reported as expenses in a future period

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Definitions:

Buyers

Individuals or entities that purchase goods or services in a market.

Tax Revenue

The income that is gained by governments through taxation, which is used to fund public services, government obligations, and infrastructure projects.

Tax

Mandatory financial charges imposed by a government on individuals, corporations, or transactions to fund public expenditures.

Good

A tangible product or service that satisfies some human desire or need, which can be bought or sold.