Answer the following statements true (T) or false (F)

1. Income is the most basic of all financial measurements.
2. Indirect expenses may be variable or fixed expenses.
3. Variable expenses are those expenses that occur as a condition of being in business.
4. Costs of items or services that are directly related to a specific transaction are called direct expenses.
5. Overhead expenses are those expenses that are not required for the company to exist.


1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. FALSE

Trades & Technology

You might also like to view...

What does the acronym IECC stand for?

What will be an ideal response?

Trades & Technology

Technician A says that all metal-to-metal contact areas of the disc brake system should be lubricated with special brake grease for proper operation. Technician B says that the lubrication helps reduce brake noise (squeal). Which technician is correct?

A) Technician A only B) Technician B only C) Both technicians A and B D) Neither technician A nor B

Trades & Technology

Increasing the temperature of lubricating oil causes it to decrease in volume.

Answer the following statement true (T) or false (F)

Trades & Technology

The _____ the lot, the more access will affect the location of the entry and the garage.

A. shallower B. deeper C. narrower D. wider

Trades & Technology