AC 361 Chapter 6
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A part or activity within an organization about which managers would like cost, revenue or profit data is called a(n) ?
Segment
Variable costing income statements are based upon a ? format.
contribution margin
For external reporting, income statements are generally prepared using ? costing, while ? costing is used for internal decision making purposes.
variable, absorption
The two general costing approaches used by manufacturing companies to prepare income statements are ? costing and ? costing
variable, absorption