-If Average Cost Is Declining,then

question 15

Multiple Choice

-If average cost is declining,then:

• A)marginal cost must be greater than average cost
• B)the average fixed cost curve must lie above the average variable cost curve
• C)the average fixed cost curve must lie below the average variable cost curve
• D)total cost must also be declining
• E)marginal cost must be less than average cost

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Definitions:

QBO

Stands for QuickBooks Online, a cloud-based accounting software designed for small to medium-sized businesses.

Accounting Records

Documents and ledgers that capture all the financial transactions of a business, serving as a foundation for financial reporting.

Physical Count

The act of manually counting inventory on hand to verify records and ensure accuracy in reporting assets.

Non-Inventory

Items or services a company sells or uses in its operations that are not held in inventory, such as supplies, subscriptions, or services.