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Home Q & A Board Other Fields Homework Help Business Accounting
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emma.locke16 emma.locke16
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6 years ago
The distinction between direct and indirect costs is clearly set forth in Generally Accepted Accounting Principles (GAAP).
[True or False]
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#1
6 years ago
 False
Explanation:  The distinction between direct and indirect costs is not set forth in GAAP. Direct costs of a cost object are related to the particular cost object and can be traced to it in an economically feasible (cost-effective) way. Indirect costs of a cost object are related to the particular cost object but cannot be traced to it in an economically feasible (cost-effective) way.
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