Asked by
Talha Mahmud
on Oct 11, 2024
Verified
Contribution format income statements are prepared primarily for external reporting purposes
Contribution Format
An income statement format that separates fixed costs from variable costs, showing the contribution margin of sales over variable costs.
External Reporting
The process of preparing and presenting financial and other information to parties outside the organization.
- Acquire knowledge on the structure and purpose of a contribution format income statement in the context of organizational planning and selection making.
Verified Answer
RC
Learning Objectives
- Acquire knowledge on the structure and purpose of a contribution format income statement in the context of organizational planning and selection making.
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