Product Costs

question 183

Multiple Choice

Product costs:

• A)Are expenditures necessary and integral to finished products.
• B)Are expenditures identified more with a time period rather than with units of product.
• C)Include selling and administrative expenses.
• D)Are expensed on the income statement when incurred.
• E)Are moved to the income statement for any unsold inventory at the end of the year.

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Definitions:

Fertilize

The process of a sperm cell joining with an egg cell to initiate the development of a new organism.

Cellular Differentiation

Process and developmental stages by which a cell becomes specialized for a particular function.

Specialized

Adapted or modified for a specific function or purpose.

Gastrulation

Formation of a gastrula from a blastula; characterized by an invagination to form cell layers of a caplike structure.