Examlex
Which of the following accounts will not be closed to Retained Earnings at the end of the fiscal year?
Business Segments
Parts of a company that can be separately identified by products provided or by geographic markets, allowing for analysis of the different areas of a business.
Variable Costing
An accounting approach that includes only variable production costs - direct materials, direct labor, and variable manufacturing overhead - in product costs, excluding fixed overhead.
Net Operating Income
The profit a company earns from its normal business operations, excluding non-operating income and expenses.
Contribution Margin
The amount remaining from sales revenues after all variable expenses have been deducted.
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