Matching Select the Appropriate Cost Behavior for Each of the Costs

question 40

Multiple Choice

Matching
Select the appropriate cost behavior for each of the costs listed below.
-indirect materials

• A)variable
• B)fixed

---

Definitions:

General Journal Entries

The recordings of financial transactions in the general journal, including both the debit and credit sides of each transaction.

Gross Margin Ratio

Gross margin ratio is a financial metric that measures a company's gross profit relative to its sales revenue, indicating the efficiency of production and pricing strategies.

Relative Liquidity

A measure of the ease with which an asset can be converted into cash without affecting its market price, compared to other assets.

Music Store Business

A commercial establishment that sells musical instruments, sheet music, and/or recorded music.