In Order to Prepare a Contribution Format Income Statement,costs Must

question 117

Multiple Choice

In order to prepare a contribution format income statement,costs must be separated into:

• A) manufacturing and selling, general, and administrative costs.
• B) cost of goods sold and operating expenses.
• C) variable and fixed costs.
• D) mixed, variable and fixed costs.

---

Definitions:

Kohlberg

Lawrence Kohlberg was an American psychologist best known for his theory of stages of moral development.

Business Transactions

Financial or commercial activities that involve the exchange of goods, services, or information between businesses or within a business.

Virtue

A trait or quality deemed to be morally good and thus is valued as a foundation of good moral being.

Moral Standards

The principles of right and wrong that are accepted by an individual or a social group, serving as a guide for ethical behavior and decision-making.