How Does a Spontaneous Statement Differ from a Contemporaneous Declaration

question 6

Multiple Choice

How does a spontaneous statement differ from a contemporaneous declaration

• A)Contemporaneous declarations can be made in response to questions but spontaneous statements can not
• B)Spontaneous statements must be made orally but contemporaneous declarations can be either oral or written
• C)Contemporaneous declarations can be made with law enforcement officers present but spontaneous statements can not
• D)Spontaneous statements are admissible at trial but contemporaneous declarations are not

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Definitions:

Net Income

The net income a company earns once all costs and taxes are subtracted from its total revenue.

Contribution Margin

This measure reflects the amount of revenue per unit that exceeds the variable costs of the unit, contributing to covering fixed costs and generating profit.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, ending with net profit or loss.

Fixed Cost

Regular, unwavering expenses in business operations that do not fluctuate with changes in production level or sales volume.