The Ratio That Indicates the Percentage of Each Sales Dollar

question 14

True/False

The ratio that indicates the percentage of each sales dollar available to cover the fixed costs and to provide operating income is termed the contribution margin ratio.

---

Definitions:

Data

Collected information or facts, typically numerical, that are used as a basis for reasoning, discussion, or calculation.

Categorical Variable

A type of variable that can take on one of a limited, and usually fixed, number of possible values, assigning each individual or other unit of observation to a particular group or nominal category.

Social Security Number

A unique nine-digit number assigned to U.S. citizens, permanent residents, and temporary working residents that is used for tracking individuals for social security and taxation purposes.

Age

The length of time that a person or entity has been alive or existed.