Total Costs Are Found by ________

question 30

Multiple Choice

Total costs are found by ________.

• A) the intersection of the marginal cost and marginal benefits curve
• B) the area under the marginal willingness to pay curve
• C) multiplying the marginal cost by the number of units
• D) the sum of the marginal cost for each unit

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Definitions:

Supplies Account

An account used to track the cost of consumable items used by a company during its operations, which are not part of the final product.

Adjusting Entry

An accounting record made at the end of an accounting period to allocate income and expenditure to the correct period.

Physical Count

Physical count refers to the actual counting of inventory items in a warehouse or store to verify stock levels.

Depreciation

An approach to apportioning the value of a tangible resource over the period it is expected to be used.