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Use the following key (a-d) to identify the proper treatment of each contingent liability.
-Event is probable but amount is not estimable
Variable Cost
Expenditures that alter in correlation with production or service output levels.
Units
A measure of quantity, either as product units in the context of business or other defined measures.
Variable Cost
Costs that vary directly with the level of production output, such as raw materials and labor costs directly involved in production.
Units
Measurements or quantities of a product or service that are produced or sold.
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