Final answer:
Period costs are the costs incurred and expensed during the accounting period. They do not pertain to manufacturing costs but to other operations of the business, such as administration and sales. Current assets and liabilities, as well as manufacturing costs, are not considered period costs. Option A
Step-by-step explanation:
The correct answer to the question 'Which of the following are period costs?' is A) Costs incurred and expensed during the accounting period. Period costs are those costs that are not directly tied to the production process and are expensed in the period in which they occur. They may include selling, general, and administrative expenses, as well as advertising and other non-manufacturing costs.
Current liabilities and current assets on the balance sheet, which are options B and C in the question, represent the financial position of a company at a specific point in time and are not considered period costs. Option D, costs related to the manufacture of products, typically refers to product costs which include direct materials, direct labor, and manufacturing overhead, and are thus not period costs either. Option A