Describe Both Variable and Fixed Costs

question 152

Essay

Describe both variable and fixed costs. Explain why the distinction between variable and fixed costs is important in cost accounting.

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Definitions:

Extrinsic Motivation

The drive to perform actions or engage in behaviors due to external rewards or pressures rather than for intrinsic satisfaction.

Intrinsic Locus Control

The belief that individuals can control events that affect them because of traits or abilities they possess.

Extrinsic Locus Control

A belief that external forces or situations beyond one's personal control determine life events and outcomes.

Self-Handicapping Tendencies

Behaviors or attitudes people adopt to create excuses for themselves, so they can avoid self-blame in case of failure.