Why Is Variable Costing Used for Internal Reports

question 144

Multiple Choice

Why is variable costing used for internal reports?

• A) It can also be used for external reports.
• B) It is readily available through most computer systems.
• C) It removes the impact of changing inventory levels from the financial results.
• D) B and C

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Definitions:

Business Purposes

Business purposes refer to the intentions or objectives for which a company or an organization is established and operated, such as profit generation, market expansion, or product development.

Leveraged Lease

A financial lease where the lessor borrows a substantial fraction of the cost of the leased asset.

Firm's Balance Sheet

A document detailing a firm's assets, liabilities, and equity owned by shareholders at a certain moment.

Generally Accepted Accounting Principles

The common set of accounting principles, standards, and procedures that companies use to compile their financial statements.