Reference no: EM132787127
Problem 1: Which of the following statements is true?
Select one:
a. Product costs affect only the income statement
b. Period costs affect only the balance sheet
c. Product costs eventually affect both the balance sheet and the income statement
d. Product costs affect only the balance sheet
Problem 2: The accounting records of Hillside Corporation revealed the following selected costs: Sales commissions, KD 40,000; plant supervision, KD 94,000; and administrative expenses, KD 185,000. Hillside's period costs total:
Select one:
a. KD 319,000
b. KD 94,000
c. KD 185,000
d. KD 225,000
Problem 3: Which account a manufacturing company, such as 'KDD', would have but not a service company, such as 'Aramex'?
Select one:
a. Salary payable
b. Advertising expense
c. Cost of goods sold
d. Retained earning
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Determine the cash shortage arising from cash defalcation
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Which is an example of a fixed cost
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What hillside period costs total
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