What Is a Term That Is Imprecise,leaving the Meaning Open

question 37

Multiple Choice

What is a term that is imprecise,leaving the meaning open to interpretation?

• A)abstract
• B)behavioral
• C)concrete
• D)intangible
• E)physical

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Definitions:

Variable Selling

Refers to the costs associated with selling a product or service that fluctuate with the level of sales activity, such as commissions and shipping charges.

Absorption Costing

A cost accounting methodology that absorbs all production costs, like direct materials, direct labor, and overhead expenses whether variable or fixed, into the final cost of a product.

Variable Costing

A costing method that includes only the variable manufacturing costs (direct materials, direct labor, and variable manufacturing overhead) in product costs.

Unit Product Cost

The total cost (both variable and fixed) to produce a single unit of product.