An Interrelated,coherent Set of Ideas That Helps Us to Explain

question 39

Multiple Choice

An interrelated,coherent set of ideas that helps us to explain phenomena and make predictions is known as a(n) :

• A)idea.
• B)scientific method.
• C)theory.
• D)hypothesis.

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Definitions:

Variable Cost

Financial obligations that shift depending on production or sales levels, notably materials and workforce expenses.

Fixed Cost

Costs that do not vary with the level of production or sales.

Period Cost

Expenses not directly tied to production activity, such as administrative and selling expenses, that are expensed in the accounting period in which they are incurred.

Contribution Margin Ratio

A metric that shows the percentage of sales revenue left after variable costs are deducted, indicating how much contributes to fixed costs and profits.