Examlex
The accrual method of accounting recognizes revenue when ____,and recognizes expenses when ____.
Variable Costs
Expenses that vary in direct proportion to changes in activity levels or volumes, such as raw materials and direct labor costs.
Fixed Costs
Costs that remain constant in total regardless of changes in the activity level within a relevant range.
Fixed Costs
Costs that do not vary with the level of output or sales in the short term, such as lease payments, insurance, and salaries of permanent staff.
Variable Costs
Costs that change in proportion to the level of production or sales volume.
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