________ Refers to a Model of Computing in Which Firms

question 93

Short Answer

________ refers to a model of computing in which firms and individuals obtain computing power and software applications over the Internet,rather than purchasing their own hardware and software.

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Definitions:

Absorption Costing

A costing method that includes all manufacturing costs (both fixed and variable) in the cost of a product.

Net Income

The total earnings of a company after subtracting all expenses and taxes from total revenue.

Variable Costing

An accounting method that considers only variable costs in calculating the cost of goods sold and determines contribution margin.

Fixed Overhead

Costs that do not change with the level of production activity, such as rent, salaries, and insurance.