Consider the Following Statements Regarding Absorption Costing and Variable Costing

question 75

Multiple Choice

Consider the following statements regarding absorption costing and variable costing.i.Profit reported under absorption costing for a year will likely differ from that reported under variable costing because production and sales differ
Ii) Total profit when added together over a ten-year period will be approximately equal under absorption costing and variable costing because production and sales will be approximately the same.
Iii) Total profit when added together over a ten-year period will be significantly different under absorption and variable costing because fixed costs will generally increase significantly over that long.Which statement/s is/are true?

• A) i
• B) i and ii
• C) i and iii
• D) ii

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Definitions:

Thickening

The process of making a liquid denser or more viscous by adding a substance, often used in cooking or in industrial processes.

Vaginal Walls

The muscular and membranous inner layers of the vagina, which can stretch and contract.

Overexertion

The condition of straining or putting too much effort beyond one's physical or mental capacity, which may lead to injury or exhaustion.

Reflexes

Involuntary and nearly instantaneous responses to stimuli.