Which of the following is consistent with generally accepted accounting principles?
A)Absorption cost approach
B)Variable cost-plus approach
C)Variable-cost approach
D)Both absorption cost and variable cost-plus approach

Question

Quizplus · Accepted Answer

Generally accepted accounting principles require the absorption cost approach for inventory costing, which includes all direct and indirect manufacturing costs in the product cost.

Which of the Following Is Consistent with Generally Accepted Accounting