Total Costs Are

question 115

Multiple Choice

Total costs are

• A)fixed costs plus average total costs.
• B)average fixed costs plus variable costs.
• C)fixed costs plus variable costs.
• D)fixed costs minus variable costs.
• E)fixed costs divided by total variable costs.

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Definitions:

Promissory Note

A financial instrument in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand.

Maturity Date

The date on which a financial obligation is due to be paid, such as the final payment date of a loan or bond.

Credit Sale

A sales transaction in which the amount due is not paid at the time of sale but is promised to be paid in the future by the purchaser.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.