In 2005, ExxonMobil Was the Largest Repurchaser of Its Own

question 52

True/False

In 2005, ExxonMobil was the largest repurchaser of its own shares with $18.2 billion worth of repurchases.

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Definitions:

Variable Costing

An accounting method that includes only variable costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold and inventory valuation.

Absorption Costing

A method of accounting in which all costs of manufacturing, both direct and indirect, are treated as product costs, regardless of whether they vary with output level.

Net Operating Income

The total income of a company after deducting operating expenses but before interest and taxes.

Variable Costing

An accounting method that only considers variable costs in the calculation of the cost of goods sold, excluding fixed costs.