Postings from the Purchases Journal to the General Ledger Are

question 140

Multiple Choice

Postings from the purchases journal to the general ledger are made

• A) daily.
• B) monthly.
• C) weekly.
• D) yearly.

---

Definitions:

Fixed Costs

Costs that do not change with the level of output produced, such as rent, salaries, and loan payments.

Long Run

A period of time sufficiently long that all inputs or factors of production can be varied by firms, allowing them to fully adjust to market conditions.

Variable Costs

Expenses that vary directly with the amount of production or business activity.

Fixed Costs

Costs that do not change with the level of output or production, such as rent or salaries.