Costs That Have Both Variable and Fixed Components Are Called

question 104

Multiple Choice

Costs that have both variable and fixed components are called ________.

• A) fixed costs
• B) variable costs
• C) mixed costs
• D) contribution costs

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Definitions:

Balance Sheet

A financial statement that provides a snapshot of a company’s financial condition at a specific point in time, detailing assets, liabilities, and shareholders' equity.

Purchases Returns

Goods returned to the supplier from the buyer, often due to defects, inaccuracies, or other issues.

Purchases Discounts

Discounts taken by the buyer for early payment of an invoice.

Current Liability

Financial obligations due by a company within a year, including loans, accounts payable, and other short-term debts.