Each of the Following Documents Is Used in the Control

question 136

Multiple Choice

Each of the following documents is used in the control of cash disbursements except:

• A)canceled checks
• B)Outstanding checks
• C)Bank credit memos
• D)Bank debit memos

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Definitions:

Marginal

Term used to describe the effects of a change in the current situation. For example, a producer’s marginal cost is the cost of producing an additional unit of a product, given the producer’s current facility and production rate.

Average Increasing

A situation in which the average cost of production goes up as the quantity produced increases.

Long-run Average Total Cost

The average cost per unit of output produced over a period during which all inputs, including capital, are variable.

Diseconomies of Scale

The situation in which a business experiences an increase in average costs per unit when output is increased beyond a certain point.