All of the Following Are True Regarding Product Costs Except

question 167

Multiple Choice

All of the following are true regarding product costs except

• A) product costs are found on the balance sheet until they are sold
• B) product costs consist of direct labor, direct materials, and factory overhead
• C) product costs can be found in three accounts on the balance sheet
• D) product costs include sales and administrative expenses

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Definitions:

Theoretical Construct

An abstract concept that is specifically designed for a scientific theory to explain a particular phenomenon.

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