3. Costs of a product that are regarded as an asset for financial reporting under GAAP are calledinventoriable costs.O mixed costs.O direct costs.O overhead costs.

Cost of product are regarded as an asset if the product is not yet sold. Product cost are also known…

Answered: Costs of a product that are regarded as…

Business

Accounting

Costs of a product that are regarded as an asset for financial reporting under GAAP are called

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3. Costs of a product that are regarded as an asset for financial reporting under GAAP are called
inventoriable costs.
O mixed costs.
O direct costs.
O overhead costs.

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