The statement is True. The CVP income statement classifies costs as variable or fixed and computes a contribution margin.
A CVP or cost-volume-benefit income statement has a similar data as a more traditional income statement, however is intended to show the impacts of changes in expenses and volume on the benefit of a business. It is utilized as a device to permit the executives to settle on conclusions about such things as item blend, selling costs, and best utilization of creation offices.
The CVP traditional income statement is for inner utilize just, and the specific configuration will rely upon the business necessities. Normally, costs are named either variable or fixed costs, and sums are attracted to show contribution margin on a business and unit premise.
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