Question: Which is the true statement? a. The CVP income statement shows contribution margin instead of gross profit. b. In a CVP income statement, costs and

Which is the true statement?

a. The CVP income statement shows contribution margin instead of gross profit.

b. In a CVP income statement, costs and expenses are classified only by function.

c. In a traditional income statement, costs and expenses are classified as either variable or fixed.

d. The CVP income statement is prepared for both internal and external use.

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