Match Each Following Terms with Their Correct Description from the Items

question 129

Multiple Choice

Match each following terms with their correct description from the items listed below.
-A factor that causes a change in cost or activity

• A)Relevant range
• B)Cost behaviour
• C)Driver
• D)Variable cost
• E)Fixed cost

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Definitions:

Deferred Tax Asset

An accounting term used to describe a situation in which a company has paid more taxes to the government than it has actually owed during a given period.

Deferred Tax Liability

A tax obligation arising from temporary differences between accounting and tax treatments of certain items, to be paid in the future.

Tax Deductible

Expenses that are subtracted from gross income to reduce taxable income, leading to a decrease in the amount of taxes owed.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding the cost of goods sold.