Which of the following statements pertain to both variable costing and absorption costing?
A. Fixed selling and administrative expenses are treated in the same manner as fixed manufacturing overhead.
B. Fixed manufacturing overhead is attached to each unit produced.
C. Variable selling costs are written-off as expenses of the accounting period.
D. Both variable and absorption costing can be used for external financial reporting.
E. The income statement discloses the amount of gross margin generated during the reporting period.
Answer: C
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a. human b. financial c. physical d. informational
The ______ of authority is a hierarchy that narrows as it flows from the top down the organization.
a. span b. width c. scope d. breadth
Which of the following statements is true about the strict liability doctrine?
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Answer the following statements true (T) or false (F)
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