Internal Users of Financial Information

question 129

Multiple Choice

Internal users of financial information:

• A) Are not directly involved in operating a company.
• B) Are those individuals involved in managing and operating the company.
• C) Include shareholders and lenders.
• D) Include directors and customers.
• E) Include suppliers, regulators, and the press.

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Definitions:

Total Variable Cost

The total of expenses that vary directly with the level of production or output.

Marginal Cost

The increment in expense for generating an additional unit of a product or service.

Swords

Edged weapons, longer than a knife or dagger, used historically in warfare or personal combat for cutting or thrusting.

Total Variable Cost

The sum of all costs that vary with output level in the production of goods or services, including materials and labor.