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Which cost classification includes costs that can be traced directly to a specif

Practice Questions

Q1
Which cost classification includes costs that can be traced directly to a specific product?
  1. Indirect Costs
  2. Direct Costs
  3. Fixed Costs
  4. Variable Costs

Questions & Step-by-Step Solutions

Which cost classification includes costs that can be traced directly to a specific product?
  • Step 1: Understand what costs are in a business context.
  • Step 2: Learn about cost classifications, which categorize costs based on how they relate to products.
  • Step 3: Identify the difference between direct costs and indirect costs.
  • Step 4: Recognize that direct costs are those that can be linked directly to a specific product.
  • Step 5: Conclude that the cost classification that includes costs traced directly to a specific product is called direct costs.
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