Which of the Following Will not Appear on the Statement

question 55

Multiple Choice

Which of the following will not appear on the Statement of Income?

• A)depreciation
• B)interest
• C)cost of goods sold
• D)dividends declared

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Definitions:

Managerial Responsibility

The obligation of managers to make decisions, supervise subordinates, and implement activities that contribute to achieving the organization's objectives.

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor used in the production process.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, providing a more useful comparison for actual versus budgeted performance.

Budgeted Costs

Estimated financial plan for expenditures over a specified period.