Two types of costs might be:

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Question: Two types of costs might be:

Option A: Fixed and variable. This pairing is the standard way economists and accountants classify costs. Fixed costs stay the same regardless of output in the short run (e.g., rent, salaries), while variable costs change with the level of production (e.g., materials, direct labor). This explanation aligns with conventional cost behavior concepts.

Option B: Variable and changeable. While variable costs do change with output, the term 'changeable' is not the conventional descriptor used in cost classifications. It’s vague and could imply scenarios beyond the standard fixed vs. variable distinction, making this option imprecise.

Option C: Recurring and occasional. This pair does not represent a recognized framework for cost classification. Costs can be recurring or occasional in some contexts, but these terms do not capture the fundamental behavior of costs with respect to output level, which is the core idea behind cost classification into fixed and variable.

Option D: Fixed and regular. Although 'fixed' is a valid category, 'regular' is not the standard counterpart to fixed in cost accounting. It misstates the established dichotomy, which is between fixed costs and variable costs, not fixed and regular.

In summary, Option A correctly captures the conventional two-way classification of costs by behavior (fixed vs. variable), while the other options rely on nonstandard or misleading terminology that does not reflect typical cost behavior concepts.

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VPAB13H3 F LEC01 Final Exam Quiz

Two types of costs might be:

View Explanation

Log in for full answers

Similar Questions

Which two categories below are used for business costs?

Match the following with the appropriate cost type 1: Rent on the office ____ 2: Professional insurance ____ 3: Catering for client presentation ____ 4: Direct Marketing communications ____ 5: Software subscription ____ 6: Part Time wages ____

Which of the following is a true classification of types of operational costs?

In a consumer society, many adults channel creativity into buying things

Economic stress and unpredictable times have resulted in a booming industry for self-help products

People born without creativity never can develop it

A product has a selling price of $20, a contribution margin ratio of 40% and fixed cost of $120,000. To make a profit of $30,000. The number of units that must be sold is: Type the number without $ and a comma. Eg: 20000

Which of the following statement regarding cost is correct:

More Practical Tools for Students Powered by AI Study Helper

Making Your Study Simpler

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