How Many of These Items Could Be Elements of Someone's

question 50

Multiple Choice

How many of these items could be elements of someone's life story: emotions, main characters, and a legacy?

• A) none
• B) one
• C) two
• D) three

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Definitions:

Fixed Costs

Expenses that do not change regardless of the level of production or business activity, such as rent, salaries, and insurance.

Selling Price

The amount of money for which an item is sold, potentially different from listing or cost price due to discounts or negotiations.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Net Income

The amount of earnings left over after all expenses and taxes have been deducted from total revenue.