To Construct a Balance Sheet,you Need to Compile Dollar Values

question 80

Multiple Choice

To construct a balance sheet,you need to compile dollar values for your assets and liabilities.Good sources from which to begin are​

• A) ​checkbook or savings account records.
• B) ​receipts of various payments.
• C) ​Investment account statements.
• D) ​all of these.

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Definitions:

Variable Costs

Variable costs are expenses that change in proportion to the activity of a business, such as sales volume or production levels.

Operating Income

The profit realized from a business's core operational activities, excluding deductions of interest and tax.

Unit Selling Price

The amount of money charged for each individual unit of a product or service.

Contribution Margin Ratio

A financial ratio that measures the profitability of a product by subtracting variable costs from sales and dividing the result by total sales.