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Match each phrase that follows with the term it describes. Clear All Includes gross profit on the income statement. Generally provides the most useful report

Match each phrase that follows with the term it describes.

Clear All
Includes gross profit on the income statement.
Generally provides the most useful report for controlling costs.
Treats fixed selling cost as a period cost.
Required by generally accepted accounting principles.

Absorption costing only
Variable costing only
Both absorption and variable costing

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