Consider the Following to Answer the Question(s) Below

question 19

Multiple Choice

Consider the following to answer the question(s) below:
A full service brokerage firm gathered information on how their clients were investing for retirement. Based on age, clients were categorized according to where the largest percentage of their retirement portfolio was invested and shown in the table below.

-The city council has just voted to pass the budget for next year. If you were writing a report describing the budget so the citizens could understand how the total tax dollars will be spent, and you decided to show each category of expenses as a wedge of a circle, which of the following graphs would be most appropriate?

• A) segmented bar chart
• B) scatter plot
• C) bar chart
• D) side-by-side bar chart
• E) pie chart

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Definitions:

Variable Costs

Expenses that fluctuate with changes in production volume or service levels, such as materials and labor costs.

Fixed Costs

Payments for rent, salaries to employees, and insurance coverages that stay the same, no matter the production or sales figures.

Break-Even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain.

Variable Costs

Costs that vary in direct proportion to changes in the amount of production or activity, like costs for direct labor and raw materials.