____ are expensed in the period in which they are incurred.
A)Direct materials
B)Product costs
C)Noninventoriable costs
D)Inventoriable costs

Question

Quizplus · Accepted Answer

Noninventoriable costs are expenses that are not associated with the production of goods and cannot be added to inventory. These costs are expensed in the period in which they are incurred. Direct materials and product costs are associated with the production of goods and are typically added to inventory. Inventoriable costs are a broader category and includes both direct and indirect costs that can be added to inventory.

____ Are Expensed in the Period in Which They Are