TB MC Qu. 10-15 (Static) Select the incorrect statement regarding costs... Select the incorrect statement regarding costs and expenses. Multiple Choice Manufacturing-related costs are initially recorded as expenses. Some costs are initially recorded as expenses while others are initially recorded as assets. Str Non-manufacturing costs should be expensed in the period in which they are incurred. Expenses are incurred when assets are used to generate revenue.

TB MC Qu. 10-15 (Static) Select the incorrect statement regarding costs... Select the incorrect statement regarding costs and expenses. Multiple Choice Manufacturing-related costs are initially recorded as expenses. Some costs are initially recorded as expenses while others are initially recorded as assets. Non-manufacturing costs should be expented in the period in which they are incurred. Expenses are incurred when assets are used to generate revenue