Total Fixed Cost

question 160

Multiple Choice

Total fixed cost:

• A) is the sum of all expenses which are closely related to output.
• B) is the sum of those costs which do not change in total no matter how much is produced.
• C) may vary in the short run-but is more or less fixed in the long run.
• D) is the sum of all costs of manufacturing and distributing a product.
• E) would be zero if the quantity produced were zero.

---

Definitions:

Ultimate Responsibility

The highest level of accountability, often resting with top managers or leaders, for the outcomes and decisions of an organization or project.

Organization's Mission

A statement that outlines an organization's purpose, its reasons for existing, and the unique value it aims to provide.

Form 990

The IRS form used by tax-exempt organizations to provide the public with financial information about the organization, including how their funds are used.

Internal Revenue Service

The U.S. government agency responsible for tax collection and tax law enforcement.