Distinguishing between fixed and variable costs is an important element of understanding cost behaviour.

Name: Distinguishing between fixed and variable costs is an important element of understanding cost behaviour.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Distinguishing between fixed and variable costs helps in understanding how costs change with the level of output or activity, which is crucial for budgeting, forecasting, and decision-making in business.

Distinguishing Between Fixed and Variable Costs Is an Important Element