A Cost That Changes with the Level of Output Is

question 33

Multiple Choice

A cost that changes with the level of output is called a(n) _____ cost.

• A) liquidity
• B) variable
• C) fixed
• D) asset
• E) elastic

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Definitions:

Measure Effectiveness

The assessment of the extent to which a particular process, activity, or task achieves its intended outcome or goal.

Underperforming

Describes a scenario where an individual, team, or organization fails to achieve the expected or required level of performance.

Calibrate

Calibrate means to adjust the precision of an instrument or tool to ensure its accuracy against a known standard.

Indirect Costs

The soft costs whose value can be estimated but not measured easily by financial expenditures.