Match the following five terms to their meanings:
i.income
II.expenses
III.fixed expenses
IV.variable expenses
v.break-even point
A)For a business,typically classified as fixed or variable.
B)For a business,this typically consists of sales for products and services.
C)Expenses that remain the same regardless of amount of activity.
D)When income equals expenses.
E)Expenses that vary depending on amount of sales.

Question

Quizplus · Accepted Answer

Income typically consists of sales for products and services (B). Expenses are typically classified as fixed or variable (A). Fixed expenses remain the same regardless of activity (C). Variable expenses vary depending on sales (E). The break-even point is when income equals expenses (D).

Match the Following Five Terms to Their Meanings