Both the income statement approach and the contribution margin approach may be used for CVP analysis.

Name: Both the income statement approach and the contribution margin approach may be used for CVP analysis.
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Both the income statement approach and the contribution margin approach are valid methods for conducting Cost-Volume-Profit (CVP) analysis, as they help in understanding how changes in costs, volume, and price affect a company's profits.

Both the Income Statement Approach and the Contribution Margin Approach