The Following Is an Example of a Mixed Cost

question 24

Multiple Choice

The following is an example of a mixed cost:

• A)direct materials
• B)materials used in production
• C)salary plus commission on sales
• D)supervisors' salaries

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Definitions:

GAAP

Generally Accepted Accounting Principles, which are a set of rules and standards designated for accounting practices and financial reporting in the U.S.

Debts

Obligations of an entity arising from past transactions or events, requiring the entity to transfer assets or provide services to other entities in the future.

Liabilities

A company's financial debts or obligations that arise during the course of business operations.

Accounts Receivables

Dues owed by customers to a firm for the provision of goods or services that have been delivered but remain unpaid.