-Costs That Spill Over to Third Parties Are Called

question 67

Multiple Choice

-Costs that spill over to third parties are called

• A) opportunity costs.
• B) external costs.
• C) variable costs.
• D) public costs.

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Definitions:

Wages And Salaries

Compensation paid to employees for their labor, either on an hourly (wages) or fixed salary basis.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, allowing for more accurate comparisons and planning.

Supplies Cost

The cost associated with purchasing supplies necessary for the daily operations of a business.

Flexible Budget

A budget that is flexible and adjusts according to activity level or volume changes.