What Is the First Step in Classifying Costs According to Behaviour

question 52

Multiple Choice

What is the first step in classifying costs according to behaviour?

• A)identify the resources needed and the output of the activity
• B)measure the outputs and inputs
• C)determine the time horizon
• D)determine the impact of output changes on the activity cost

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Definitions:

RUPA Partnership Test

The criteria established under the Revised Uniform Partnership Act to determine the existence of a partnership, focusing on the intention to carry on as co-owners of a business for profit.

Startup Business

A nascent company aiming to fill a gap in the market and rapidly grow in terms of customers and revenues.

Liability

The state of being legally responsible for something, typically referring to the obligation to compensate others for loss or damage caused by one’s actions.

Control

The power or authority to manage, direct, or influence something or someone's actions or operations.