Match the Following Terms with Their Definitions

question 12

Multiple Choice

Match the following terms with their definitions.
-Bar chart

• A)Value that occurs most often
• B)Used in a frequency distribution
• C)Middle number is median
• D)Line graph
• E)Sum of all values / Number of values
• F)Does not distort an average that has one or more extreme values
• G)Height represents frequency
• H)Current price x 100 base year price
• I)360
• J)Sum of products + sum of frequencies

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Definitions:

Absorption Costing

An accounting method that includes all direct costs and allocated overheads in the cost of a product or service, as opposed to variable costing which excludes certain overheads.

Ending Inventory

The total value of goods available for sale at the end of an accounting period or fiscal year.

Variable Costing

An accounting method that only includes variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, excluding fixed manufacturing overhead.

Net Operating Income

The profit realized from a business's operations after subtracting operating expenses from operating revenues.