An Increasing Number of Personal Bankruptcies Are Made by Well-Educated,middle-Class

question 89

Multiple Choice

An increasing number of personal bankruptcies are made by well-educated,middle-class people,who represent ________ percent of the adult population.

• A)70
• B)60
• C)50
• D)40
• E)30

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Definitions:

Variable Overhead

Costs that change in proportion to the level of production or business activity, such as utilities or raw materials.

Variable Cost

Expenses that vary in direct proportion to changes in the level of production or sales volume.

Fixed Cost

Costs that remain constant in total amount with changes in the volume of activity, such as rent and salaries.

Mixed Cost

Expenses that have both fixed and variable components, changing with the level of activity but also containing a static element.