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7 Which of the following statement is INCORRECT? The direct/indirect cost classification depends on the choice of the cost object. 1. Point Variable costs change,

7 Which of the following statement is INCORRECT? The direct/indirect cost classification depends on the choice of the cost object. 1. Point Variable costs change, in total, in proportion to changes in the related level of activity or volume of output produced. Fixed costs per unit change inversely with the level of production. D Inventoriable costs are treated as expenses of the accounting period in which they are incurred

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