An expense item was 24% of the total revenues in one year when the revenues...

90.2K

Verified Solution

Question

Accounting

An expense item was 24% of the total revenues in one year when the revenues were $100,000. In the next year, the total revenues increased to $120,000, and the same expense item was 20% of the revenues. What type of cost would this be - a fixed cost, a variable cost, or a mixed cost?
a fixed cost item
a variable cost item
a mixed cost item
Let's ask an accountant
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students