Kelly Is in Charge of Both Accounting and Investments and All

question 101

Multiple Choice

Kelly is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Kelly is a(n) ____ manager.

• A) executive
• B) financial
• C) first-line
• D) middle
• E) operations

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Definitions:

Total Variable Costs

The sum of all costs that vary with the level of output or production.

Variable Costs

Costs that change in proportion to the level of production or business activity, such as raw materials and labor expenses.

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance.

Profit

The difference between total revenue and total cost.