Jerry Schneider Was Able to Amass Operating Manuals and Enough

question 95

Multiple Choice

Jerry Schneider was able to amass operating manuals and enough technical data to steal $1 million of electronic equipment by

• A)scavenging.
• B)skimming.
• C)Internet auction fraud.
• D)cyber extortion.

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Definitions:

Operating Income

Income generated from regular business operations, excluding revenues and expenses from non-operating activities.

Inventory

The overall quantity of products and materials in possession of a company, intended for future sale or to be used in manufacturing.

Variable Costing

Variable Costing is a costing method that only includes variable costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, excluding fixed manufacturing overhead.

Contribution Margin

The amount by which sales revenue exceeds variable costs of production, indicating how much contributes to covering fixed costs and generating profit.