A Survey of Managers Selected Which of the Following Business

question 78

Multiple Choice

A survey of managers selected which of the following business areas as the most common starting-point for future managers?

• A) Accounting.
• B) Finance.
• C) Legal environment of business.
• D) Computers in business.

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Definitions:

Variable Cost

Costs that change in proportion to the level of production or business activity, such as materials and labor costs.

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue is contributing to fixed costs and profits.

Incremental Manufacturing Cost

The additional cost incurred to produce one more unit of a product, excluding fixed costs.

Traditional Format Income Statement

A financial statement that presents a company's revenues, expenses, and profits in a standard format, often distinguishing between operating and non-operating activities.