Product and Period Costs Quiz
Test your knowledge of double entry bookkeeping with our product and period costs quiz. This quiz tests if you know whether a cost is normally classified as a product cost or a period cost.
Product costs are costs which a business incurs in producing a product, they become part of the inventory cost in the balance sheet until the product is sold. Period costs are any costs which are not product costs. If you need a refresher course on this topic take a look at our product and period costs tutorial.
Start the Product and Period Costs Quiz
Click on an answer to reveal whether its Right! or Wrong
Try Another Double Entry Bookkeeping Quiz
The product and period costs quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below.
- Quiz 12: Debit or Credit Quiz
- Quiz 33: Adjusting Entries Quiz
- Quiz 41: Ending Work in Process Quiz
- Quiz 61: Declining Balance Method of Depreciation
About the Author
Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years in all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a BSc from Loughborough University.