Which of the Following Will Appear as a Line Item

question 120

Multiple Choice

Which of the following will appear as a line item in the income statement prepared under variable costing?

• A) Contribution Margin
• B) Total Cost of Goods Sold
• C) Work-in-Process Inventory
• D) Gross Profit

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Definitions:

Internal

Pertaining to or situated within something; intrinsic.

External

Originating from outside, not inherent or internal to an entity or individual.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision.

Media Coverage

The reporting, broadcasting, or publishing of news and information by various media outlets, such as television, radio, newspapers, and the internet.