Examlex
The GDP deflator of a country in the base year was 100,and it is 130 in the current year.This implies that the prices of final goods and services produced in the country have increased by ________ between the two years.
Absorption Costing
Absorption costing is a method in accounting that includes all manufacturing costs - both direct and indirect - in the cost of a product.
Variable Costing
An accounting method where only variable production costs are included in product costs, with fixed overhead treated as a period cost.
Net Operating Income
A monetary measurement that determines an organization's profit by deducting operational costs from its operational revenue.
Absorption Costing
A costing method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.
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