Which of the following statements about net income (NI) is true? O NI = operating income plus nonoperating revenue O NI = operating income less cost of goods sold O NI = operating income plus operating costs O NI = operating income less income taxesWhich of the following is true about the assumptions underlying basic CVP analysis? O Selling price, variable cost per unit, fixed cost per unit, and total fixed costs are known and constant. O Only selling price is known and constant. O Only selling price and variable cost per unit are known and constant O Only selling price, variable cost per unit, and total fixed costs are known and constantThe contribution income statement 0 categorizes costs as either direct or indirect O is allowed for external reporting to shareholders O can be used to predict future profits at different levels of activity 0 reports gross margin Contribution margin equals: O revenues minus variable costs O revenues minus product costs O ) revenues minus period costs O revenues minus fixed costsThe breakeven point is the activity level where O revenues equal fixed costs O revenues equal variable costs O revenues equal the sum of variable and fixed costs O contribution margin equals variable costs