_____ Are the Quantitative Expressions of Plans Stated in Either

question 89

Multiple Choice

_____ are the quantitative expressions of plans stated in either physical or financial terms or both.

• A) Budgets
• B) Financial statements
• C) Cost of goods sold statements
• D) Cost of goods manufactured statements

---

Definitions:

Fixed Cost

A cost that does not vary with the level of output or sales, such as rent, salaries, and insurance premiums.

Overhead Cost

Indirect expenses related to the operation of a business, such as rent, utilities, and administrative salaries, that are not directly tied to the production of goods or services.

Total Revenue

The complete amount of income generated by a business from its sales or services before any costs or expenses are subtracted.

Marginal Costs

The cost added by producing one additional unit of a product or service.