Devon Has Owned His Own Business for Five Years but Is

question 59

Multiple Choice

Devon has owned his own business for five years but is having trouble accounting for the business assets.He has read about the SBA SCORE Association and would like to have a SCORE volunteer mentor him.Which of the following most accurately explains the services and purpose of SCORE?

• A) SCORE personnel provide training to business owners for a nominal fee.
• B) SCORE personnel provide services to small businesses through the SBA.
• C) SCORE experts are certified by the SBA.
• D) SCORE personnel are all retired small business owners.

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Definitions:

Marginal Cost

The cost of producing one additional unit of a good or service.

Total Costs

The complete sum of all expenses incurred by a business in producing goods or services, including fixed and variable costs.

Output

The total amount of goods or services produced by a company, individual, or process within a given time frame.

MC

MC, or Marginal Costs, refers to the cost associated with producing an additional unit of a good or service, highlighting the incremental expense of production expansion.