When Maria Accuses John of Cheating on Her,John Admits That

question 19

Multiple Choice

When Maria accuses John of cheating on her,John admits that he did go out with Angela,but that it was no big deal and Maria shouldn't worry about it.John's account is most appropriately labelled as a(n)

• A) reproach.
• B) justification.
• C) excuse.
• D) absence of an account.

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Definitions:

Net Incomes

The total earnings of a company after all expenses, taxes, and costs have been deducted from total revenue.

Absorption Costing

An accounting method that includes all manufacturing costs (direct materials, direct labor, and both fixed and variable manufacturing overhead) in the cost of a product.

Net Operating Income

The profit generated from a company's core business operations, excluding deductions of interest and taxes.

Segmented Income Statement

An income statement that breaks down revenues, expenses, and profit or loss by specific business segments.