Fixed Costs Are Those Costs That Continue Even If No

question 55

True/False

Fixed costs are those costs that continue even if no units are produced.

---

Definitions:

Liabilities

Financial obligations or debts owed by a company to others, which are expected to be paid or settled in the future.

Functional Currency

The currency of the primary economic environment in which an entity operates and carries out its day-to-day transactions.

Exchange Rate

The value of one currency for the purpose of conversion to another.

Historical Cost

The original monetary value of an asset or transaction, without adjustments for inflation or other factors.