The Total Expense Incurred by a Firm in Producing and Marketing

question 225

Multiple Choice

The total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost, is referred to as

• A) overhead cost.
• B) total cost.
• C) unit cost.
• D) average cost.
• E) marginal cost.

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Definitions:

Total Credits

In accounting, the sum of all credit entries recorded, representing increases in liabilities, revenue, or equity.