Knowledge Check $01$

How should the wages of a sheet metal worker in a fabrication plant be classified?

multiple choice $1$

Product cost

Period cost

Nonmanufacturing cost

Administrative cost

Knowledge Check $02$

The $\_\_\_\_\_\_\_\_\_$blank requires that the costs incurred to generate a particular revenue should be recognized as expenses in the same period that the revenue is recognized.

multiple choice $2$

materiality concept

consistency concept

matching principle

going concern assumption