A Cost Which Remains Constant Per Unit at Various Levels

question 65

Multiple Choice

A cost which remains constant per unit at various levels of activity is a

• A) variable cost.
• B) fixed cost.
• C) mixed cost.
• D) manufacturing cost.

Comprehend the growth management strategies for small businesses, including delegation of authority.

Explain the importance of innovation and customer focus in the success of small businesses.

Realize the potential immediate threats to small and mid-sized businesses and strategies to mitigate them.

Know the role of personal assets and savings as a source of funds for starting a business.

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Definitions:

Probability Distribution

A mathematical description of the likelihood of different outcomes in an experiment, showing how probabilities are distributed over a range of values.

Variance

A statistical measure that represents the average squared deviation from the mean, indicating how spread out a data set is.

Law of Total Probability

A fundamental rule that provides a way to break down the probabilities of complex events into more manageable pieces.

Mutually Exclusive

Events that cannot occur at the same time, meaning the occurrence of one event makes it impossible for the other event to occur.