The Super-Variable Costing Net Operating Income Period Can Be Computed

question 129

True/False

The super-variable costing net operating income period can be computed by multiplying the number of units sold by the gross margin per unit.

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Definitions:

Ledger Account

A set of accounts in a ledger that provides a record of financial transactions categorized by account type.

Record-Keeping Function

The systematic process of organizing and maintaining financial documents and records of a company.

Voucher System

A control or accounting system where vouchers (documents that prove a transaction) are used to authorize and record transactions in an accounts payable system.

Account Payable

The liability created by a purchase on account.