Biology Forums - Study Force

Which of the following statements are true?

1. The costs attached to products that have not been sold are included in ending inventory on the balance sheet.

2. In absorption costing, nonmanufacturing costs are assigned to units of product.

3. Most countries require some form of absorption costing for external reports.

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Only statement I is true.

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Only statement II is true.

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Statements I and III are true.

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All of the statements are true.

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