Costs that vary in total in direct proportion to changes in an activity level are called:
A) fixed costs
B) sunk costs
C) variable costs
D) differential costs
C
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The primary purpose of the statement of cash flows is to provide information about a company's investing and financing activities during an accounting period
Indicate whether the statement is true or false
U.S. GAAP and IFRS require firms to classify derivatives as
a. fair value hedges, only. b. cash flow hedges, only. c. not a hedging instrument, only. d. fair value hedges or cash flow hedges, only. e. fair value hedges, cash flow hedges, or not a hedging instrument.
On an annual basis, total setup costs ______.
A. decrease as the quantity produced per production run increases B. increase as the quantity produced per production run increases C. increase as the number of production runs decreases D. increase as the number of setups required decreases
Which of the following is a (are) permanent account(s)?
A. The Dividend account B. All balance sheet accounts and the Dividends account C. The Retained Earnings account D. All income statement accounts