Match the Terms with the Definitions

question 31

Multiple Choice

Match the terms with the definitions.
-The process of taxing corporate income both to the company that earns it and to the owners who receive it.

• A)authorized stock
• B)board of directors
• C)bylaws
• D)premium
• E)capital stock subscription
• F)preferred stock
• G)paid-in capital
• H)cumulative preferred stock
• I)dividends
• J)double taxation
• K)outstanding stock
• L)no-par stock

---

Definitions:

Total Variable Costs

The sum of all costs that vary directly with the level of production, such as materials and labor directly involved in the production process.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to sell.

Production Functions

Mathematical relationships expressing the output of a firm, an industry, or an entire economy as a function of inputs.

Industry Supply Curve

A graph showing the relationship between the price of a good and the total output of the industry that produces it.