Vertical dashed line in graphical representation of cost function represents the
A. cost representation
B. irrelevant range
C. relevant range
D. graphical representation
Answer: Option C
Solution(By Examveda Team)
Vertical dashed line in graphical representation of cost function represents the relevant range. The relevant range refers to a specific activity level that is bounded by a minimum and maximum amount. Within the designated boundaries, certain revenue or expense levels can be expected to occur.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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