A(n)________ Cost Is One Whose Total Amount Changes in Direct

question 137

Multiple Choice

A(n) ________ cost is one whose total amount changes in direct proportion to a change in volume.

• A)fixed
• B)irrelevant
• C)variable
• D)mixed

---

Definitions:

Current Value

The present worth of an asset or liability, taking into account factors such as market conditions and depreciation.

Financial Statements

Records outlining a corporation's financial health, incorporating details from the balance sheet, income statement, and cash flow statement.

Assets

Resources owned or controlled by a business that are expected to produce economic benefits.

Liabilities

Financial obligations or debts owed by a company to external parties or individuals, expected to be settled through the outflow of resources.