Variable Costs

question 34

Multiple Choice

Variable costs:

• A)change as the quantity of output changes.
• B)are zero when production is zero.
• C)are exemplified by direct labor and raw materials.
• D)All of the above.
• E)None of the above.

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Definitions:

Accounting

The practice of recording, classifying, and reporting on financial transactions to track an entity's financial status and performance.

Voiding

The process of cancelling a check or transaction in financial record keeping.

Deleting

The act of removing data or records from a database or document, often irreversible.

Time Tracking

The process of recording the amount of time spent on various tasks, often for billing or payroll purposes.