A Footnote Is an Explanatory Comment or Reference That Appears

question 45

True/False

A footnote is an explanatory comment or reference that appears at the end of a section, with a lowercase Roman numeral as the reference marker. ​

---

Definitions:

Incremental Manufacturing Cost

The additional cost incurred to produce an extra unit of a product.

Contribution Format Income Statement

A format for income statements that divides fixed and variable expenses, emphasizing the margin of contribution.

Traditional Format Income Statement

A type of income statement where expenses are deducted from revenues to calculate net income, typically divided into operating and non-operating sections.

Fixed Selling Expense

refers to selling costs that do not vary with the volume of sales, including salaries of sales personnel and advertising expenses.