A Decline in the Net Fixed Assets Account Between Year-End

question 33

True/False

A decline in the Net fixed assets account between year-end 2013 and year-end 2014 is a clear indication that fixed assets were sold during 2014.

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Definitions:

Contribution Percentages

The portion of sales revenue that is not consumed by variable costs, indicating how much contributes to covering fixed costs and generating profits.

Departmental Contributions

The specific financial or operational impact of individual departments within a company toward its overall success.

Uncontrollable Expenses

Uncontrollable expenses are costs that cannot be changed or influenced in the short term by the actions of managers or individuals within the organization.

Joint Cost

A cost that is incurred in producing multiple products where the costs cannot be easily separated for each product produced.