Worldatwork Exam T7 Topic 3 Question 58 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 58
Topic #: 3

[All T7 Questions]

What is the term that describes the outflows of assets or incurring of liabilities during a period as a result of delivering or producing goods and/or rendering services?

APeriod costs

BProduction costs

CCost of materials

DExpenses

Show Suggested Answer

Suggested Answer: A

by Jade at Sep 16, 2022, 08:03 AM

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Cheryll

11 days ago

But could it also be A) Period costs? Those are incurred during a specific period.

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Melina

13 days ago

I agree with Aaron, expenses are the outflows of assets or liabilities.

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Aaron

17 days ago

I think the answer is D) Expenses.

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