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A _______________ Cost Is One That Remains Unchanged in Amount

question 30

Essay

A _______________ cost is one that remains unchanged in amount when volume of activity varies from period to period within a relevant range. A ______________ cost is one that changes in proportion to changes in volume of activity.


Definitions:

Unadjusted Trial Balance

A preliminary list of all accounts and their balances in the general ledger before any adjusting entries are made to prepare financial statements.

Financial Statements

The formal records of the financial activities and position of a business, individual, or other entity, including the balance sheet, income statement, and cash flow statement.

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