Question: QUESTION 4 A cost that can NOT be easily traced to the end product would be called: a direct cost a product cost a discretionary

QUESTION 4

  1. A cost that canNOTbe easily traced to the end product would be called:
  • a direct cost
  • a product cost
  • a discretionary cost
  • an indirect cost

QUESTION 5

  1. Managerial accounting must conform to which of the following standards?

  • Generally Accepted Accounting Principles (GAAP)

  • International Financial Reporting Standards (IFRS)

  • Internal Revenue Service tax code

  • None of the above

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