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:

Functional Currency

The form of money used in the main economic region where a business is active and conducts its dealings.

Net Exchange Differences

The net result of gains or losses on foreign currency transactions and translation of foreign operations, reflecting the impact of exchange rates fluctuations on financial statements.

Financial Instruments

Contracts that give rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Revaluation Gain

An increase in the value of an asset over its previously recorded book value, recognized after a revaluation process.