When Evaluating Secondary Data,the ________ Criteria Asks the Question of "Why

question 68

Multiple Choice

When evaluating secondary data,the ________ criteria asks the question of "why the data were collected in the first place."

• A)nature
• B)objective
• C)error/accuracy
• D)currency

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Definitions:

Total Fixed Cost

The sum of all costs that remain constant regardless of the level of production or sales activity.

High-low Method

The high-low method is a way of estimating the fixed and variable components of a cost by using the highest and lowest activity levels and their corresponding costs.

Fixed Costs

Expenses that do not change with the level of goods or services produced by the business, such as rent and salaries.

Variable Costs

Costs that vary directly with the level of production or service volume.