Read section 1.6. Classifying costs and revenue correctly is critical to consistent financial reporting. A consistent report has uniform meaning within the company. In this section you will learn some of the basic terminology used to classify costs. This section of the textbook is important to your success in this course, so be sure to complete the exercises at the end of the section before you move on.
Click https://saylordotorg.github.io/text_managerial-accounting/s05-06-cost-terminology.html link to open resource.