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Chapters 1-4 The Accounting Cycle
Chapters 5-8 Current Assets
Chapters 9-11 Long-Term Assets
Chapters 12-14 Liabilities/Equities
Chapters 15-16 Using Information
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20 Managerial/Cost
Chapters 21-24 Budgeting/Decisions

Chapter 23 - Fill in the Blanks

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Question 1 of 8

1. Question
With variable costing all fixed production costs are subtracted from current period revenues; whereas, with absorption costing fixed overhead may be allocated between ____________ and ____________ .
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Question 2 of 8

2. Question
The cost component that is included in inventory with absorption costing, but not variable costing, is ____________factory overhead.
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Question 3 of 8

3. Question
A ____________ income statement provides top management with an understanding of how individual responsibility centers affect total firm profitability.
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Question 4 of 8

4. Question
The ____________ contribution margin is computed by subtracting fixed costs that are both controllable by the segment’s management and directly traceable to the segment from the contribution margin.
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5. Question
A controllable contribution margin minus uncontrollable ____________ costs yields the segment margin.
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6. Question
____________ is a concept whereby operating income is reduced for the cost of capital associated with operating assets.
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Question 7 of 8

7. Question
The ____________ method allocates the cost of selected service departments partially to other service departments.
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Question 8 of 8

8. Question
Reframing line item income statement information to reflect the specific nature of costs is sometimes termed ____________ information.
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Account Types

Typical financial statement accounts with debit/credit rules and disclosure conventions

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Time Value of Money

Future and present value tables

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Chapters 1-4
Chapters 5-8
Chapters 9-11
Chapters 12-14
Chapters 15-16
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20
Chapters 21-24
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