What Are the Two Basic Requirements for the Declaration Against

question 17

Essay

What are the two basic requirements for the declaration against interest exception to the hearsay rule?

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales over a certain range and time period.

Variable Costs

Costs that vary in direct proportion to changes in the level of production or sales volume.

Variable Costs

Costs that change in proportion to the level of production or activity, such as materials and labor.

Sales

The transactions involving the exchange of goods or services for money.