Average Variable Cost Is

question 67

Multiple Choice

Average variable cost is:

• A)variable cost per unit multiplied by quantity.
• B)total variable cost divided by quantity.
• C)the difference between average total cost and total cost.
• D)the difference between total cost and total fixed cost.

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Definitions:

Financial Statement

A formal record of the financial activities of a business, person, or other entity, presented in a structured manner to understand financial conditions and operations.

Normal Balance

The side of an account (debit or credit) where increases are recorded, depending on the account type.

Permanent/Temporary

Refers to the duration of an object, situation, or condition, where "permanent" is enduring or lasting forever, and "temporary" is limited in time.

Deposit Ticket

A document accompanying a bank deposit, listing the amount and items being deposited, such as cash and checks.