acct2210 zeigler g q#3（acct2210 zeigler g问# 3）.docVIP

Acct 2210 Zeigler: Group Quiz #3 - Chp 4, 5, 6 (30 points) Name _____________________ Group # ____ Class Period: 4:00 6:00 ____ 1. Which of the following is not a “period” cost? a. Advertising cost. b. Salary of the company president. c. Merchandise purchased for resale. d. Interest paid to the bank on a note payable. ____ 2. Which of the following statements is true? a. The cost(s) associated with inventory are expensed when the inventory is purchased. b. Administrative salaries represent product costs. c. All period costs are expensed in the period that they are paid for