Audit
What will be an ideal response?
Objective Examination and evaluation of the financial statements of an organization
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So long as a firm is enjoying increasing marginal returns, a one unit increase in output will cause marginal costs to ________ and total costs to ________
A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease
Jaxon borrows $10,000 from a bank and withdraws $20,000 from his personal savings to open a tattoo parlor. The interest rate is 3 percent for both the bank loan and his personal savings. Jaxon's implicit costs are $900
a. True b. False Indicate whether the statement is true or false
Which of the following policy changes would lead to a decrease in the real interest rate and an increase in investment and saving?
a. a larger investment tax credit b. an expansion of eligibility for Individual Retirement Accounts c. an increase in income-tax rates, with no change in the government budget deficit or surplus d. an increase in government purchases, with no change in taxes
Costs which increase with an increase in output are called
A. changeable costs. B. variable costs. C. fixed costs. D. unchangeable costs.