Variable Costs Are

question 141

Multiple Choice

Variable costs are:

• A) costs that don't depend on the quantity of output produced.
• B) costs that depend on the quantity of output produced.
• C) one-time costs.
• D) None of these is true.

---

Definitions:

Trade Name

The name under which a business operates and is known to the public, distinct from the legal name of the business entity.

Perfection

The legal process by which secured parties protect themselves against the claims of third parties who may wish to have their debts satisfied out of the same collateral; usually accomplished by the filing of a financing statement with the appropriate government official.

Binding Agreement

A legally enforceable contract between parties that requires the fulfillment of certain obligations.

Extend Credit

The act of lending money or providing services or goods with an agreement that payment will be made in the future.