In an Absorption-Costing Statement, Revenue Less Variable Manufacturing Cost Is

question 126

True/False

In an absorption-costing statement, revenue less variable manufacturing cost is the gross margin.

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Definitions:

Unconditional Promise

A commitment or guarantee that is not subject to any conditions or contingencies.

Time Certain

A specific, agreed-upon moment or period in which something is to occur or be completed, often used in contracts and scheduling.

Assumed Name

An assumed name, also known as a trade name or "doing business as" (DBA), is a name a business uses that is different from its legal, registered name.

Device

A piece of equipment designed for a particular purpose, often electronic in nature.