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Which of the following statements is incorrect? Select one: a. Absorption costing is also known as product costing. b. Variable costing is not GAAP. c.
Which of the following statements is incorrect?
Select one:
a. Absorption costing is also known as product costing.
b. Variable costing is not GAAP.
c. Only variable manufacturing costs are assigned to products under the variable costing approach.
d. When using a variable costing system, the contribution margin discloses the excess of revenues over variable costs.
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