Which of the Following Is Not a Standard Type of Memo

question 9

Multiple Choice

Which of the following is not a standard type of memo?

• A) Policy memo
• B) Acceptance memo
• C) Notice of change memo
• D) Update memo

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Definitions:

Fixed Costs

Costs that do not vary with the volume of production or sales, such as rent, salaries, and insurance.

Margin of Safety

The difference between actual or projected sales and the break-even point. It measures how much sales can fall before a company incurs a loss.

CVP Income Statement

A financial statement that shows the effects of changes in costs and volume on a company's profits using Cost-Volume-Profit analysis.

Breakeven

The point at which total revenues equal total costs, resulting in neither profit nor loss.