Define period cost. Give three examples of period costs of a merchandising company
What will be an ideal response
Period cost is an operating cost that is expensed in the accounting period in which it is incurred. Examples include sales staff salaries, advertising, store utilities, office rent, office equipment depreciation, property taxes and insurance for the office, and delivery expenses.
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Regulatory and professional bodies Write the full name of the following regulatory and professional acronyms and describe the function of each entity: PCAOB AICPA SEC IIA FASB
In which one of the following instances would an auditor most likely issue a standard unqualified opinion without explanatory language?
a. Management's disclosures are missing or inadequate. b. There is substantial doubt about the entity's ability to continue as a going concern. c. There is a significant limitation on the scope of the engagement. d. There is an immaterial deviation from GAAP related to capitalizing repairs.
The perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it is referred to as
A. customer value. B. a marketing exchange. C. the marketing mix. D. benefit segmentation. E. relationship marketing.
What is the outsourcing option that includes the most remote location and indirect customer control?
A. Offshore outsourcing B. Nearshore outsourcing C. Onshore outsourcing D. None of the above