Match Each of the Following Terms with Its Corresponding Definition

question 67

Multiple Choice

Match each of the following terms with its corresponding definition.
-Systems development methodologies and techniques based on objects rather than data or processes.

• A)object-oriented analysis and design
• B)object
• C)inheritance
• D)object class
• E)Rational Unified Process

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Definitions:

Absorption Costing

A financial methodology that includes every cost related to producing a product—direct materials, direct labor, and both kinds of overhead expenses (variable and fixed), into the product’s final cost.

Ending Finished Goods

Ending Finished Goods are the inventory of completed products that are available for sale at the end of an accounting period.

Net Operating Income

This is the profit a company makes from its operations, after all operating expenses have been subtracted from revenues but before taxes and interest are deducted.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much revenue is contributing to fixed expenses and net income.