How Many of the Five Pairs of Items Listed Below

question 104

Multiple Choice

How many of the five pairs of items listed below are exact duplicates?

• A)4
• B)1
• C)2
• D)3

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Definitions:

Net Sales

Sales revenue less sales returns and allowances and less sales discounts.

High-Low Method

A technique used in management accounting and cost accounting to split fixed and variable costs based on the highest and lowest levels of activity.

Mixed Cost

Expenses that have both a fixed and variable component, changing with the level of activity.

Variable Cost

Costs that vary directly with the level of production or with the volume of output.