QUESTION 18 Classifying costs by behavior with changes in volume of activity involves: O Identifying fixed cost and variable cost. O Identifying cost of goods sold and operating costs. O Identifying costs as financial or managerial. O Identifying costs in a physical manner. O Identifying both quantitative and qualitative cost factors. QUESTION 19 Costs that flow directly to the income statement as expenses are called: O Period costs. O Product costs. O General costs. O Balance sheet costs. Capitalized costs. 4 points QUESTION 21 4 points QUESTION 20 Managerial accounting is different from financial accounting in that: O Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on subdivisions of the organization. O Managerial accounting never includes nonmonetary information. O Managerial accounting includes many projections and estimates whereas financial accounting has a minimum of predictions. O Managerial accounting is used extensively by investors, whereas financial accounting is used only by creditors. Managerial accounting is mainly used to set stock prices. 4 points Save Answer Losinte Save Answer Save Answer 40