The Format of a Variable Costing Income Statement Is Similar

question 75

Multiple Choice

The format of a variable costing income statement is similar to a(n)

• A)contribution margin income statement.
• B)traditional income statement.
• C)audited income statement.
• D)single-step income statement.

---

Definitions:

Key Management Personnel

Individuals having authority and responsibility for planning, directing, and controlling the activities of an entity, typically including top-level managers and directors.

Disclosure Exemption

Situations under which a company is allowed not to disclose certain information that would normally be required by accounting standards.

Government Agency

An organization at the federal, state, or local level that administers specific functions on behalf of the government.

Subsidiaries

Companies that are controlled by a parent company through majority ownership or significant control over management decisions.