Examlex
________ is a new idea applied to initiating or improving a product, process, or service.
Selling Expenses
Costs incurred to sell products, including advertising, sales commissions, and promotional materials, that are not directly associated with the production of goods.
Administrative Expenses
Costs related to the general operations of a company, such as salaries of non-production staff, office supplies, and utilities.
Merchandise Inventory
Goods a company holds for the purpose of resale in the normal course of business.
Product Costs
These are costs that are directly associated with the creation of a product, including direct materials, direct labor, and manufacturing overhead.
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