Which One of the Following Is True Concerning a CVP

question 25

Multiple Choice

Which one of the following is true concerning a CVP income statement?

• A)Costs and expenses are classified only by function.
• B)It is prepared for both internal and external use.
• C)It shows contribution margin instead of gross profit.
• D)Costs and expenses are classified as product or period.

---

Definitions:

Concrete Concepts

Ideas or terms that refer to tangible, physical objects or phenomena that can be observed directly.

Mental Lazy

A tendency to avoid cognitively demanding tasks, opting for simpler, less effortful thinking processes.

Motivation

The process of generating and expending energy toward achieving or avoiding some outcome.

Objective Facts

information verified to be true, independent of personal feelings, interpretations, or prejudice.