Use the Following Table to Answer the Following Questions

question 27

Multiple Choice

Use the following table to answer the following questions:

-According to the table,the country with the highest average yearly budget deficit over the time period is

• A) the United States.
• B) France.
• C) Italy.
• D) Belgium.
• E) Australia.

---

Definitions:

Variable Costing

An accounting methodology that only includes variable production costs (costs that change with the level of output) in product costs.

Absorption Costing

An accounting method that includes all of the costs associated with manufacturing a product in the cost of that product.

Operating Income

Earnings before interest and taxes (EBIT), a measure of a company's profitability from its operations.

Variable Costing

An accounting method that assigns only variable production costs to products, treating fixed costs as period costs.