In Terms of Cost Behavior,telephone Expenses Are Often Classified as

question 19

Multiple Choice

In terms of cost behavior,telephone expenses are often classified as

• A)sunk costs.
• B)variable costs.
• C)fixed costs.
• D)mixed costs.

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Definitions:

TC Curves

They represent total cost curves, which show the total cost of producing different quantities of a good or service at various levels of production.

Sunk Cost

A cost that has already been incurred and cannot be recovered.

Nonrefundable

Describing a payment or deposit that cannot be returned or refunded back to the payer under most circumstances.

Nontransferable

An attribute of an item or asset that cannot be legally transferred or assigned from one individual or entity to another.