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Which of the following statements is false?
Contribution Margin
The amount by which a product's sales price exceeds its total variable costs, used to cover fixed costs and generate profit.
Variable Costing
Variable costing is an accounting method that includes only variable production costs in the cost of goods sold and inventory valuation.
Net Income
This is the total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.
Net Income
The total profit of a company after all expenses and taxes have been subtracted from total revenue.
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