Q1. Property taxes on the manufacturing facility are an element of :

a. Conversion Cost No; Period Cost No

b. Conversion Cost No; Period Cost Yes

c. Conversion Cost Yes; Period Cost No

d. Conversion Cost Yes: Period Cost Yes

A. Option A

B. Option B

C. Option C

D. Option D

Q2. Which of the following statements are true

1. Generally an asset is a cost that will me matched with revenues in a future accounting period

2. Opportunity costs are recorded as intangible assets in the current accounting period

A. only (1) is true

B. Only (2) is true

C. Both are true

D. Neither are true