Which of the Following Statements Most Accurately Describes Financial Accounting's

Multiple Choice

Which of the following statements most accurately describes financial accounting's view of period costs?

A) Period costs are all costs incurred in the current financial reporting period.
B) Period costs are all direct costs incurred in the current financial reporting period.
C) Period costs are all non-manufacturing expenses incurred in the current financial reporting period.
D) Period costs are a component of fully absorbed costs.