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dmitriy555 [2]
3 years ago
12

Which of the following will usually be found on an income statement prepared using absorption costing? Contribution Margin/ Gros

s Margin? A) Yes/ Yes B) Yes/ No C) No/ Yes D) No/ No
Business
1 answer:
chubhunter [2.5K]3 years ago
3 0

Answer:

C) No/Yes

Explanation:

An income statement (profit and loss account) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit

Absorption cost is a method of calculating the cost of a product or enterprise by taking into account indirect expenses (overheads) as well as direct costs.

How do you calculate total period cost under absorption costing?

Income statement shows Sales – Cost of Goods sold = Gross Margin (or Gross Profit) – Operating Expenses = Net Income and is based on the number of units SOLD.

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A: The four types of economic utility are form, time, place and possession. "Utility" in this context refers to the value, or usefulness, that a purchaser receives in return for exchanging his money for a company's goods or services.

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Which of the following phrases effectively describes a business’s income statement
irina [24]

Answer:

Financial picture

Explanation:

The phrases is suitable because An income statement will give a general picture for stakeholders regarding the company's financial condition in the past year.

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2 years ago
Which of the following attributes of a competitor is important in strategic planning?
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I think the answer is all of the above
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2 years ago
Christy enjoys baking pies from fresh fruit, especially blueberries, blackberries, and strawberries. When she goes to the market
Bess [88]

Answer:

Christy's demand for blackberries is elastic.

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Christy purchases blueberries, blackberries, and strawberries. When the price of blackberries rises to a small extent, Christy will instead purchase strawberries or blueberries.  

This shows that the demand for blackberries is elastic. Elastic demand refers to the situation when a small change in price causes the quantity demanded to change to a great extent.

6 0
3 years ago
What you give up for taking some action is called the . is falling when marginal cost is below it and rising when marginal cost
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<span>What you give up for taking some action is called the opportunity cost.

Average total cost is falling when marginal cost is below it and rising when marginal cost is above it.

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The cost of producing an extra unit of output is the marginal cost.</span>
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