Cost definition
Not what you're looking for?
Describe the various terms dealing with costs(direct,indirect,sunk,fixed,variable.etc).
Purchase this Solution
Solution Summary
The solution does a great job of answering the questions below.
Solution Preview
Opportunity, Fixed, Variable, and Sunk Costs are functions of accounting rules. Below are some cost classifications:
FIXED: include all costs that do not vary with activity for an accounting period. Fixed costs are at any time the inevitable costs that must be paid regardless of the level of output and of the resources used. A Fixed Cost is there fore not an Opportunity Cost. Overhead is considered a fixed cost, even though it may vary somewhat according to the amount of activity.
Total costs are usually expressed as Fixed + Variable
VARIABLE: all other costs that are some function of activity. They are usually considered linear because ...
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.