Rent and Equipment Are Examples of Variable Costs

question 2

True/False

Rent and equipment are examples of variable costs.

Evaluate the completeness and accuracy of accounting records.

Understand the impact of transactions on owner's equity and net income.

Recognize the subdivisions of owner's equity.

Identify and correct common errors in accounting entries.

---

Definitions:

Cognitive Consistency

Refers to the psychological theory suggesting humans are motivated to maintain consistency between their beliefs, attitudes, and behaviors to reduce mental dissonance.

Perceived Discrepancies

Refers to the differences or gaps that individuals notice between their current state and their desired state or goals.

Motivated

Driven or inclined to act or engage in certain activities out of interest or need.

Behaviourism

An emphasis on explaining observable behaviour in terms of reinforcement schedules.