Benefit(s)of the Income Statements for Managerial Use Include(s)

question 61

Multiple Choice

Benefit(s) of the income statements for managerial use include(s)

• A)demonstrating which costs are variable and which are fixed.
• B)breaking down revenues and costs in a number of ways to meet managers' needs.
• C)breaking down revenues and expenses in a number of ways to meet managers' needs.
• D)demonstrating which costs are variable and which are fixed,and breaking down revenues and costs in a number of ways to meet managers' needs.

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Definitions:

Marginal Social Cost

The cost to society of producing one additional unit of a good, including both the cost to the producer and any costs to others from that production.

Marginal Social Benefit

The additional benefit to society resulting from the production or consumption of one more unit of a good or service.

Pollution

The contamination of the natural environment by harmful substances or energies, often resulting from human activities.

Efficient

The condition in which resources are allocated in a way that maximizes the net benefit to society or achieves an optimal outcome where no one can be made better off without making someone else worse off.