Variable Costs Include All but Which of the Following

question 28

Multiple Choice

Variable costs include all but which of the following?

• A)Labour Cost
• B)Fuel Cost
• C)Repairs costs
• D)Salaries

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Definitions:

Bank Reconciliation

The process of comparing and adjusting the balance shown in a company’s bank statement, as compared to the company’s own financial records.

Journal Entries

The basic method used in accounting to record transactions, involving debits and credits to appropriate accounts.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.

Bank Statement

A document issued by a bank detailing the transactions in an account over a specific period, showing deposits, withdrawals, and balances.