Which of the Following Is Most Likely to Be a Fixed

question 36

Multiple Choice

Which of the following is most likely to be a fixed factor of production at a university?

• A)The number of personal computers.
• B)The number of lecture halls.
• C)The number of professors and lecturers.
• D)The amount of chalk.

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Definitions:

Balance Sheet

A financial statement that presents a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity.

Income Statement

A financial statement that shows a company's revenue, expenses, and profit over a particular period, providing insight into its financial performance.

Fixed Costs

Fixed Costs are expenses that do not change with the level of production or sales, such as rent or salaries.

Volume of Activity

A measure of the quantity of work performed or the level of operations, often used to allocate overhead costs in activity-based costing.