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Which of the following statements is true regarding absorption costing? Multiple Choice: Fixed overhead is included in period expenses under absorption costing. It is not

Which of the following statements is true regarding absorption costing?

Multiple Choice:

Fixed overhead is included in period expenses under absorption costing.

It is not permitted to be used for financial reporting.

It is not permitted to be used for tax reporting.

It assigns all manufacturing costs to products.

It requires only variable costs to be treated as product costs.

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