A Financial Asset Is

question 197

Multiple Choice

A financial asset is:

• A) a physical asset like a car.
• B) a claim that entitles the owner to future income from the seller.
• C) the value of accumulated savings.
• D) another term for capital.

---

Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.

Cost of Goods Manufactured

The total cost incurred by a company to produce goods within a specified period, including costs related to materials, labor, and manufacturing overhead.

Direct Labor Costs

The salary and benefits awarded to staff members actively participating in the manufacturing of products or provision of services.

Cost of Goods Manufactured

The total production cost of goods that are completed and ready for sale during a specific period.