Which of the Following Inputs Is Normally Considered to Be

question 37

Multiple Choice

Which of the following inputs is normally considered to be variable in the short run?

• A)labor
• B)raw materials
• C)capital
• D)Both A and B

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Definitions:

Budgeted Balance Sheet

A financial statement that projects the financial position of a company at a future date, estimating assets, liabilities, and equity based on anticipated financial activities and plans.

Variable Operating

Refers to operating expenses that vary in direct proportion to changes in an organization's level of activity or volume.

Fixed Expenses

Costs that do not change with the volume of production or sales, such as rent, salaries, and insurance.

Merchandise Inventory

The total cost of all the goods that a retail company has available for sale at any given time.