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Exam Content Question 6 Which of the following statement is CORRECT? A Product costs are treated as expenses of the accounting period in which the

Exam Content Question 6 Which of the following statement is CORRECT? A Product costs are treated as expenses of the accounting period in which the product is sold. Variable costs change, in per unit, in proportion to changes in the related level of activity or volume of output produced. Costs are fixed or variable for a specific activity and/or for an indefinite time period. Total Fixed costs change inversely with the level of production. 1 Point

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