state whether the following statements are true or false 621634

State whether the following statements are true or false:

1. Absorption Costing is also called Marginal Costing.
2. Marginal Cost is nothing but Variable Cost.
3. Absorption Costing fails to establish a relationship between cost, volume, and profit.
4. Variable Costing is also called Direct Costing.
5. Under Variable Costing, the stock is valued at a Marginal Cost only.
6. Under Absorption Costing, the stock is valued at the Total Cost.
7. Under Absorption Costing, only Variable Costs are charged to the Product Cost.
8. For a decision-making purpose, Variable Costing is more effective than Absorption Costing.
9. Net income as determined under Absorption Costing and Variable Costing techniques will always be different unless the production volume is equal to the sales volume.
10. In Absorption Costing, the profit becomes a function of sales instead of production.