The Three Categories of Product Costs Are Direct Materials,direct Labor,and

question 85

True/False

The three categories of product costs are direct materials,direct labor,and manufacturing overhead.This statement is the definition of product cost.

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Definitions:

Working Capital Management

The supervision of a company's short-term assets and liabilities to ensure its efficient operation and financial stability.

Credit Management

The process of granting credit, setting the terms it's granted on, recovering this credit when it's due, and ensuring compliance with company credit policy.

Borrowing

The act of obtaining funds from another party with the promise of repayment at a later date, often with interest.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests.