If a Business' Costs and Expenses Are Greater Than Its

question 128

True/False

If a business' costs and expenses are greater than its revenue,it will suffer a loss.

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Definitions:

Units

A measure of quantity used to describe the amount of product, material, or service.

Sold

The past tense of sell; refers to the action of transferring ownership of a good or service to a buyer in exchange for money or other compensation.

Variable Cost

Costs that vary directly with the level of production or service volume, such as materials and labor.

Units

In the context of production, refers to individual items or quantities that are counted or measured.