Questions That Allow a Respondent to Select from a Predetermined

question 24

Multiple Choice

Questions that allow a respondent to select from a predetermined set of responses are called:

• A) Closed-ended questions
• B) Fixed-choice questions
• C) Open-ended questions
• D) Both a and b
• E) Both a and c

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Definitions:

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance.

Variable Costs

Costs that change in proportion to the level of activity or volume of production.

Break-even Point

The point of business operation at which revenues equal expenses, resulting in no net loss or gain.

Variable Costs

Expenses that change in direct proportion to the amount of production or the volume of sales.