Q306
Costs which are considered as expenses in accounting period are also known as
A.
inventory costs
B.
period costs
AnswerC.
timed costs
D.
labour overheads
Answer: Option B
Solution
Answer: Option B
Solution:
Costs which are considered as expenses in accounting period are also known as period costs. A period cost is any cost that cannot be capitalized into prepaid expenses, inventory, or fixed assets.