Which of the Following Is the Correct Formula for the Contribution

question 93

Multiple Choice

Which of the following is the correct formula for the contribution margin per unit?

• A)sales - total variable cost
• B)unit selling price ÷ unit variable cost
• C)(unit selling price - unit variable cost)÷ unit selling price
• D)unit selling price - unit variable cost

Apply journal entries to close various types of accounts, including revenue, expense, and withdrawal accounts.

Discern the effects of errors in closing entries on financial statements.

Assess the financial outcome (net income or net loss) through closing entries.

Recognize the role of the Income Summary account in the closing process.

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Definitions:

Consumer Review Fairness Act

A federal law that protects consumers' ability to share their honest opinions about a business's products, services, or conduct, without fear of legal retaliation.

Honest Opinions

Honest opinions refer to statements or judgments made in good faith and believed to be true, often considered in legal contexts related to defamation or free speech.

Lemon Laws

Regulations that protect consumers from being stuck with defective vehicles or other consumer goods by requiring manufacturers to repair, replace, or refund the purchase.

Substantially Impairs

Significantly affects or decreases the value, function, or condition of something or someone's ability to perform their usual duties.