Using Account Analysis, What Type of Cost Is the Price

question 118

Multiple Choice

Using account analysis, what type of cost is the price of gasoline when your car gets 20 miles per gallon and each gallon costs $3.10?

• A) Fixed
• B) Mixed
• C) Step
• D) Variable

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Definitions:

Agent's Negligence

A failure by an agent to exercise the care, diligence, and skill that a reasonably prudent person would exercise in similar circumstances.

Principal

Principal refers to the original sum of money loaned or invested, before interest, or the main party to a transaction or agreement.

Damages

A sum of money awarded in compensation for loss or injury caused by the wrongful act of another party.

Agent

A person or entity authorized to act on behalf of another person or entity in business transactions or legal matters.