With reference to the theory of contribution, which of the following statement is/are correct?
1. Contribution is the excess of sales over variable costs
2. Contribution is the excess of sales over total costs
Select the correct answer:
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: Option A
This Question Belongs to Commerce >> Accounting
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