March 31 Is the End of The

question 9

Multiple Choice

March 31 is the end of the:

• A)Fourth quarter.
• B)Third quarter.
• C)Second quarter.
• D)First quarter.
• E)None.

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or business activity, such as rent, salaries, and insurance premiums.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as materials and labor.

Theory of Constraints

A management approach that focuses on identifying and managing the most limiting factor (constraint) that stands in the way of achieving a goal.

Goldratt and Cox

Eliyahu M. Goldratt and Jeff Cox, co-authors of "The Goal," a book introducing the Theory of Constraints, a methodology for improving organizational performance.