The Selling Price Per Unit Less the Variable Cost Per

question 75

Multiple Choice

The selling price per unit less the variable cost per unit is the ________.

• A) fixed cost per unit
• B) gross margin
• C) margin of safety
• D) contribution margin per unit

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Definitions:

Correcting Entries

Adjustments made in accounting records to amend errors or omissions in the previously recorded transactions.

Accumulated Depreciation

The aggregate cost of a tangible asset that has been amortized as a depreciation expense from the time the asset started being used.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Correcting Entries

Journal entries made to correct errors found in the accounting records after the posting process.