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.
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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 23: Cash Flow Statement
- Quiz 41: Ending Work in Process Quiz
- Quiz 2: Accounting Equation Quiz
- Quiz 54: Accounting Journal and Ledger Quiz
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 and has built financial models for 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 degree from Loughborough University.