A Form of Balance Sheet That Lists the Liabilities and the Owner's

question 93

Multiple Choice

A form of balance sheet that lists the liabilities and the owner's equity sections below the assets section is called the

• A) account form.
• B) journal form.
• C) report form.
• D) current form.

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Definitions:

Mixed Costs

Costs that have both a fixed and variable component, changing with the level of output but not directly proportional to it.

CVP Analysis

Cost-Volume-Profit Analysis is a technique in managerial accounting that examines the impact of cost and volume changes on a company’s operating and net income.

Cost-volume-profit

An analysis to determine how changes in costs and volume affect a company's operating income and net income.

Fixed Costs

Costs that do not change in total despite fluctuations in the volume of goods or services produced or sold.