________ Is Used for External Reporting

question 93

Multiple Choice

________ is used for external reporting.

• A)Absorption costing
• B)Variable costing
• C)Direct costing
• D)Activity-based costing

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Definitions:

Consumption Bundles

A combination of various goods and services that are consumed by an individual.

Chain-Weighted Price Index

An economic measure that accounts for changes in quantities and prices to more accurately reflect the real growth over time.

Consumer Price Index

Measure of the aggregate price level.

Laspeyres Index

A price index used to measure the price change between a base period and the current period, using the base period quantities as weights.