Select the Appropriate Classification of Each of the Costs Listed

question 108

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.
-Executive travel costs

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

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Definitions:

Hiring Labor

The process of finding, selecting, and employing people to work for wages or salaries.

Profit Maximizing

The mechanism through which a firm calculates the price and output level to maximize its profits.

Workers Paid

Compensation provided to employees in exchange for their labor or services, which can be in the form of wages, salaries, or benefits.

Supply of Labor

The total amount of labor that workers are willing and able to offer at various wage rates in a given time period.