_____ Describes the Activities of the Business, Whereas _____ Categorize(s)

question 104

Multiple Choice

_____ describes the activities of the business, whereas _____ categorize(s) , aggregate(s) , and evaluate(s) data generated by the organization's activities.

• A)Transaction data, master data
• B)Source data, transaction data
• C)Operational data, master data
• D)Master data, source data
• E)Business dimensional data, databases

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Definitions:

Variable Costing

A costing method that includes only variable production costs (materials, labor, and overhead) in product costs, treating fixed costs as period costs.

Variable Costing

An accounting method that includes only variable production costs in the cost of goods sold and treats fixed overhead expenses as period costs.

Operating Income

Earnings from a company’s core business operations, excluding deductions of interest and taxes.

Absorption Costing

An accounting method that includes all direct costs and overheads involved in manufacturing a product in the cost of that product.