Select the Appropriate Classification of Each of the Costs Listed

question 165

Multiple Choice

Select the appropriate classification of each of the costs listed below.Each classification may be used more than once, and it is possible that one or more of the classifications may not be used at all.
-Internet advertising

• A)Discretionary fixed cost
• B)Committed fixed cost

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Definitions:

Internal Controls

Procedures and mechanisms implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Operating Activities

Activities that are directly related to the day-to-day operations of a business, such as sales, supply procurement, and employee wage payment.

Separation Of Duties

A key principle in internal control that involves dividing responsibilities among different personnel or departments to reduce risk of fraud and errors.

CPA Licenses

Certifications granted to accounting professionals who meet the education, experience, and examination requirements of their jurisdiction, allowing them to practice as Certified Public Accountants.