The rule of necessity states that an agency may render a final binding decision orally

______________: Gap between expectations and product performance

Fill in the blank(s) with the appropriate word(s).

Product costs are expensed ________

A) when the products are consumed or sold B) when the accounting period they are incurred in comes to an end C) when the products are transferred to the Work-in-Process Inventory account D) when the market value of products goes above the recorded value