For Long-Run Pricing Decisions,which of the Following Costs of a Product

question 113

Multiple Choice

For long-run pricing decisions,which of the following costs of a product informs managers of the minimum cost they need to recover to continue in business?

• A)Fixed
• B)Full
• C)Variable
• D)Activity

---

Definitions:

Balance Sheet

A ledger entry that captures the financial position of an enterprise, recording assets, liabilities, and shareholder equity on a particular date.

Financial Statements

These are formal records of the financial activities and condition of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Adjusted Trial Balance

A statement that lists all the account titles and balances of a company after making necessary adjustments but before the preparation of financial statements.

Unearned Revenue

Money received by a business for goods or services yet to be provided; classified as a liability until the service or product is delivered.