Which of the Following Statements Do Not Contain Features Required

question 16

Multiple Choice

Which of the following statements do not contain features required of a budget -

• A)choosing asset and liability accounts
• B)entering a budget period frequency
• C)choosing revenue and expense accounts
• D)entering the budget amounts

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Definitions:

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and insurance premiums, remaining constant regardless of the level of production.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Production Level

The quantity of goods or services that a company is capable of producing over a given period of time.

Marginal Costs

The amount spent on producing an extra unit of a product or service.