For the convenience credit card user the interest rate is

What is the main reason that it is necessary for public companies to follow the rules and format set out in the Generally Accepted Accounting Principles (GAAP) when creating financial statements?

A) It ensures that the market value of assets and debt are reported accurately. B) It ensures that information on the performance of public companies is reported on cash-basis accounting. C) It ensures that important budgetary information is not omitted. D) It makes it easier to compare the financial results of different firms.

The Bluebird Factory reported $1,000,000 in total revenues and $60,000 total variable costs during the previous year

Required: Compute the contribution margin. A) $900,000 B) $920,000 C) $940,000 D) $960,000 E) $980,000