Select the Appropriate Classification for Each of the Items Listed

question 59

Multiple Choice

Select the appropriate classification for each of the items listed below.
-Cost of conference for sales team

• A)Product cost
• B)Period cost

---

Definitions:

Generally Accepted Accounting Principles

The standard framework of guidelines for financial accounting used in any given jurisdiction.

Internal Users

Individuals within the organization, such as managers and employees, who use financial information to make decisions regarding the company's operations.

Nonexecutive Employees

Workers who do not hold executive or managerial positions within a company, often involved in the daily operational activities.

Lenders

Entities that provide financial resources to individuals or organizations with the expectation that the funds will be repaid, typically with interest.