COBIT Focuses on the Process That a Firm Can Follow

question 80

True/False

COBIT focuses on the process that a firm can follow in developing standards, paying special attention to the writing and maintaining of the documentation.

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Definitions:

Average Variable Cost

This is the average amount of variable costs (costs that change with production levels) per unit produced.

Net Profits

The actual profit after working expenses not included in the calculation of gross profit have been paid.

Production Quantity

The total volume or number of units of a product made by a company or industry.

Contribution Margin

Contribution margin is a cost accounting concept that calculates the difference between a product's price and its variable costs, indicating how much each unit sold contributes to covering fixed costs and generating profit.