The Customer List Contains Information About

question 23

Multiple Choice

The Customer List contains information about:

• A)The quantity of non-inventory parts on hand
• B)The credit rating of the vendors
• C)Vendors from whom the company buys products and services
• D)Customer addresses, contacts and phone numbers

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Definitions:

Contribution Format

A type of income statement where costs are categorized based on their variability (variable or fixed), used in managerial accounting.

Sold Units

The number of units of product that have been sold to customers.

Contribution Margin Ratio

The percentage of sales revenue remaining after variable costs are deducted, indicating the portion contributing towards fixed costs and profit.

Contribution Format

An income statement format that separates fixed and variable costs to highlight the contribution margin.