A Gratuitous Assignment Is Revocable by the Assignor

question 18

True/False

A gratuitous assignment is revocable by the assignor.

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Definitions:

Variable Costs

Expenses that change in proportion to the level of activity or production volume.

Static Budget

A budget that does not change or adapt over time, based on the assumption of a fixed level of activity.

Activity Index

The activity that causes changes in the behavior of costs.

Variable Costs

Costs that vary directly with the level of production or service output, such as materials and labor.