INSTRUCTIONS:

The questions in this exercise are based on APPLE COMPANY (www.apple.com). To answer the questions, you will need to type or go to https://investor.apple.com/investor-relations/default.aspx Investors Updates and choose View the Form 10-Q to download the Apple Companys Form 10-Q quarter ended June 2021.

QUESTION:

Describe some of the various types of operating expenses incurred by Apple Company. Why are these expenses treated as period costs?