Nonfinancial Information Should Be Collected Because

question 42

Multiple Choice

Nonfinancial information should be collected because

• A)it may indicate events that may affect resources.
• B)it can be used to plan other activities.
• C)it can be used in transaction processing.
• D)both A and B

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Definitions:

Break-Even Point

The point at which total cost and total revenue are equal, resulting in no net loss or gain for the business.

Variable Costs

Expenses that vary in relation to the amount of products or services a company generates.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, or loan payments.

Units

In the context of inventory or production, refers to the individual items or components that can be counted or measured.