Which of the Following Is Not One of the Four

question 52

Multiple Choice

Which of the following is not one of the four objectives of accounting given by ASOBAT?

• A)To make decisions concerning the use of limited resources (including the identification of crucial decision areas) and to determine objectives and goals
• B)To direct and control an organization's human and material resources effectively
• C)To relate the evaluative framework of standards and guidelines to the objectives themselves
• D)To facilitate social functions and controls

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Definitions:

Average Variable Cost

The total variable costs divided by the quantity of output produced, showing the variable cost per unit of output.

Economic Loss

A situation where total costs exceed total revenues, resulting in a negative profit for a business.

Short-run Supply Curve

Shows the relationship between the price of a good and the quantity supplied over a short period, when at least one input is fixed.

Minimum Point

The point at which a function reaches its smallest value, often used in the context of costs or optimization problems.