The Long Run Is a Planning Period

question 308

Multiple Choice

The long run is a planning period:

• A) over which a firm can consider all inputs as variable.
• B) of at least 5 years.
• C) of more than 6 months.
• D) of 6 months to 5 years.

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Definitions:

Debited

Denotes an entry on the left side of an account, indicating an increase in assets or expense or a decrease in liabilities or equity.