The Costs Associated with Variable Inputs Are _____, and the Costs

question 73

Multiple Choice

The costs associated with variable inputs are _____, and the costs associated with _____ inputs are _____.

• A) variable; fixed; fixed
• B) fixed; fixed; variable
• C) variable; fixed; variable
• D) fixed; fixed; fixed

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Definitions:

Revenues

The complete earnings derived from transactions involving goods or services that are fundamental to an organization's core functions.

Expenses

Outflows or the using up of assets or incurrence of liabilities from a company's activities intended to generate revenue.

End-Of-Period Spreadsheet

A tool used in accounting to gather all account balances at the end of an accounting period to prepare financial statements.

Dividends

Money paid out to shareholders by a business, generally coming from the business's profits.