A Bit Can Be

question 106

Multiple Choice

A bit can be

• A)0 or 1.
• B)any number from 0 through 9.
• C)any number or letter.
• D)any letter A through E.

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Definitions:

Units

A standard quantity of a product, used in various contexts such as measurement, accounting, or inventory control.

Variable Costing

A management accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold.

Net Cash Flow

The amount of money being transferred in and out of a business, reflecting the company's operating, investing, and financing activities over a period.

Absorption Costing

A cost accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.