Ch 2 - Key Terms
| Description: | Intro to Managerial Accounting |
| Category: | Accounting |
| Created by: | ljgarris on 2009-01-28 |
| Question | Answer |
| Cost Behavior | how the activities of an organization affect its cost |
| Cost Driver | any output measure that causes cost (that is, Causes the use of costly resources) |
| Variable Cost | a cost that changes in direct perportion to changes in the cost-driver level |
| Fixed Cost | a cost that is not immediately affected by changes in the cost-driver level |
| Relevant Range | the limit of cost-driver level within which a specific relationship between costs and the cost driver is valid |
| Cost-Volume-Profit(CVP) Analysis | the study of the effects of output volume on revenue(sales), expenses (costs), and net income (net profit) |
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