Variable Costs Are Described by Which of the Following Statements

question 180

Multiple Choice

Variable costs are described by which of the following statements?

• A)They vary per unit of output.
• B)They are fixed in total.
• C)They are fixed per unit and vary in total.
• D)They decrease per unit as production volume increases.

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Definitions:

Simple Random Sampling

A sampling method where each member of a population has an equal chance of being included in the sample, ensuring that the sample is representative of the population.

Numerical Composition

Numerical composition refers to the representation or breakdown of components in a sample or group by their numbers, often used in statistical analysis.

Sampling Error

The discrepancy between the statistics calculated from a sample and the corresponding values in the entire population.

Confidence Interval

A confidence interval is a range of values, derived from statistical analysis, that is likely to contain the true value of an unknown population parameter.