Penalties for Bank Fraud Include a Maximum Fine of $1

question 8

Multiple Choice

Penalties for bank fraud include a maximum fine of $1 million and up to how much time in prison?

• A) 10
• B) 70
• C) 30
• D) life

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Definitions:

Variable Cost

Variable costs vary directly with the level of production output and can include expenses like raw materials and labor directly involved in a product's manufacturing.

Fixed Costs

Fixed costs are those business expenses that remain constant regardless of the level of production or sales, such as rent, salaries, and insurance.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, indicating the proportion of fixed to variable costs in a company's cost structure.

Break-even Point

The point at which total revenues equal total costs, resulting in neither profit nor loss.