At Apple Computers,the Financial Department Considers the Profit Earned at the End

question 99

Multiple Choice

At Apple Computers,the financial department considers the profit earned at the end of the day as:

• A)the point at which company assets equal company liabilities.
• B)the money left over after a firm's total expenses are subtracted from its total revenues.
• C)the goodwill earned from implementing the societal marketing concept.
• D)the money earned as long as the economic order quantity is maintaineD.Key term definition - profit

---

Definitions:

Variable Costing

An accounting method that only includes variable costs (costs that change with production levels) in product costs.

Absorption Costing

An accounting method that allocates all manufacturing costs, including both fixed and variable costs, to the product, used for external financial reporting and tax purposes.

Contribution Format

A type of income statement format that separates fixed costs from variable costs to highlight the contribution margin.

Income Statement

A financial report that shows a company’s revenues, expenses, and net income over a specific period, illustrating the company’s financial performance.