Where would period costs be found on the financial statements?
A) Under current assets on the balance sheet
B) Under current liabilities on the balance sheet
C) As operating expenses on the income statement for a previous period
D) As operating expenses on the income statement in the period incurred

Question

Quizplus · Accepted Answer

Period costs are recognized as operating expenses on the income statement in the period incurred. Therefore, they would be found under operating expenses on the income statement.

Where Would Period Costs Be Found on the Financial Statements