To Insert an Extra Invoice Line Before the First Line

question 24

Multiple Choice

To insert an extra invoice line before the first line of a sales invoice -

• A) click anywhere on the first line of the invoice, choose the edit menu and click insert line
• B) click at the beginning of the first line of the invoice, type the new information and press enter to insert it
• C) click anywhere on the first line of the journal, press delete to remove this line and then add the new details
• D) you cannot insert a line, you must add it below the invoice lines already used

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Definitions:

Net Operating Income

The income generated from normal business operations, excluding expenses such as interest and taxes.

Common Fixed Expenses

Costs that do not vary with the level of production or sales over a certain period and are shared among different segments or products of the business.

Absorption Costing

This accounting approach incorporates every manufacturing expense, such as direct materials, direct labor, plus variable and fixed overhead costs, into the product's total cost.

Variable Costing

An accounting method that only includes variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs.