Answer:
become a rapper
Explanation:
The ending inventory of Sandie’s Candies is overstated by $75,000 at December 31, 20x8. What is the effect on 20x8’s net income, assuming that no other inventory errors have occurred during 20x8?
a. $150,000 overstated
b. $75,000 understated
c. no effect
d. $75,000 overstated
Answer:
$75,000 overstated
Explanation:
An overstatement of a year's ending inventory, absent any other errors, will lead to a decrease in Cost of Goods Sold (COGS), and an increase in Net Income.
Critical Chain Project Management (CCPM) attempts to keep the most highly demanded resource busy on critical chain activities, but not overloaded.
a. True
b. False
Answer:
True
Explanation:
Critical-Chain
This was introduced or originated by Eli Goldratt in 1997. Its aim is to challenges conventional project management approaches and absolute dependence on TOC principles. The idea of what to change or eliminated is the largely rooted behaviors that is common with the traditional project management practices. It is very multitasking anf it is the longest string of reliance that occur on the project.
Critical- Chain Approach
This approach simply covers project network as it ca be limited by both resource and technical reliance/dependencies. each type of limitations can create task reliance.
The Summary of Critical Chain Approach
1.) use Aggressive but Possible Times (ABPT) for task durations
2.) identify the critical chain by accounting for resource dependencies
3.) use buffer management to track project progress etc.
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 28 is:
Answer:
Debit : Account Payable $1,600
Credit : Discount Received $32
Credit : Cash $1,568
Explanation:
The correct journal entry to record the payment on July 28 includes a Debit to Accounts Payable and Credit to Discount and Cash. Cash should be after returns and discount received.
Black Company's unadjusted and adjusted trial balances on December 31 of the current year are as follows
Answer:
wdym
Explanation:
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available:
Net income for the year was $58,000
Accounts payable increased by $18,600
Accounts receivable decreased by $25,600
Inventories increased by $6,200
Depreciation expense was $31,800
Net cash provided by operating activities was:_________.
Answer:
Net cash provided by operating activities was $127,800.
Explanation:
Net cash provided by operating activities can be calculated as follows:
Net cash provided by operating activities = Net income for the year + Increase in accounts payable + Decrease in accounts receivable - Increase in inventories increased + Depreciation expense = $58,000 + $18,600 + $25,600 - $6,200 + $31,800 = $127,800
Therefore, net cash provided by operating activities was $127,800.
Which capital budgeting technique is used on an exclusionary basis to prevent investing time and resources investigating using more complex techniques
Answer:
"Net Present Value" is the right approach.
Explanation:
A method used to determining or calculating the gaps between the current valuation of initial investment as well as the outputs of something like development or possible expenditure is termed as net present value.
The formula which is used to find the NPV is given below:
⇒ [tex]NPV=\frac{Cash \ flow}{(1+i)^t}-initial \ investment[/tex]
here,
i = Return requiredt = No. of periodsAirline Accessories has the following current assets: cash, $93 million; receivables, $85 million; inventory, $173 million; and other current assets, $9 million. Airline Accessories has the following liabilities: accounts payable, $80 million; current portion of long-term debt, $26 million; and long-term debt, $14 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.)
Answer:
See below
Explanation:
1. The current ratio is the sum of current assets divided by current liabilities. It used to measure the ability of the airlines accessories to meet its short term obligation due within a year
Current ratio = $93 million + $85 million + $9 million / $80 million + $26 million
Current ratio = $187 million / $106 million
Current ratio = 1.76:1
Current ratio = 1.76 times
2. Acid test ratio. This measure liquidity but with adjustment for risky current assets i.e Inventory
Acid test ratio = Current assets - Inventories / Current liabilities
Acid test ratio = ($187 million - $173 million) / $106 million
Acid test ratio = $14 million / $106 million
Acid test ratio = 0.13:1
Acid test ratio = 0.13 times
Explain the difference between the concepts of Business Management and Technology Management. Provide examples.
Answer:
Explanation:
There is a difference between business management and technology management.
Business management refers to managing the organization's business perspective so that the direct business objectives of the organization is served.
Business management involves managing the domain, employees, looking after the business processes of an organization, etc. whereas
While technology management is used to make the business process simple and convenient through various aspects like managing the technical aspect of each and every business process and that is possible by having details about the technical aspects that are involved in all the business process of the organization.
For an organization to be successful it should possess all the required management techniques that include the business and technical aspects both.
Today the way of doing business has changed a lot and hence the organizations need to be quite diligent and effective in order to sustain and remain competitive in the industry.
The following errors took place in journalizing and posting transactions:
a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.
b. The purchase of supplies of $2,500 on account was recorded as a debit to Office Equipment and a credit to Supplies.
Journalize the entries to correct the errors. Omit explanations.
Answer: See explanation
Explanation:
The journal entry to correct the errors is given below:
a. Dr Cash $8400
Cr Account receivable $8400
b. Dr Supplies $2500
Cr Office equipment $2500
Dr Supplies $2500
Cr Account Payable $2500
Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.
Private solutions to correct for externalities Consider the following scenario: Suppose that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream into a lake that has become thick with algae and polluted by the minerals in the waste matter. The local office of a nonprofit environmental organization collects enough donations to fund a campaign to stop the farm's pollution. Which of the following types of private solutions to the externality of pollution has occurred in this case?A. Integration of different types of businessesB. ContractsC. Moral codes and social sanctionsD. Charities
Answer:
D
Explanation:
The activities of the chicken firm constitutes a negative externality to the environment
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
Coase theorem has been proposed as a solution to externality. According to this theory, when there are conflicting property rights, bargaining between parties involved can lead to an efficient outcome only if the bargaining cost is low
Another solution to negative externality is through the activities of charities. Charities can raise donations to limit or regulate the activities of firms that constitutes a negative externality. This is the solution employed here.
Review the following statements and determine which is (are) correct regarding an adjusted trial balance and how it is used In preparing financial statements. (Check all that apply.) Multiple select question. The adjusted trial balance includes all accounts and balances appearing in financial statements. The ending Retained Earnings account balance on the balance sheet is taken directly from the adjusted trial balance. Financial statements are easier to prepare using the adjusted trial balance than the general ledger. The balance sheet is the first financial statement prepared. The ending Retained Earnings account balance on the balance sheet is transferred from the statement of retained earnings. The income statement is the first financial statement prepared after preparing the adjusted trial balance.
Answer:
The Correct Statements regarding an adjusted trial balance and its use in preparing financial statements are:
1. The adjusted trial balance includes all accounts and balances appearing in financial statements.
3. Financial statements are easier to prepare using the adjusted trial balance than the general ledger.
5. The ending Retained Earnings account balance on the balance sheet is transferred from the statement of retained earnings.
6. The income statement is the first financial statement prepared after preparing the adjusted trial balance.
Explanation:
a) The above answers leave the following incorrect statements about the adjusted trial balance:
2. The ending Retained Earnings account balance on the balance sheet is taken directly from the adjusted trial balance.
4. The balance sheet is the first financial statement prepared.
b) In conclusion, the adjusted trial balance, which lists the general ledger account balances, is compiled after considering period-end adjustment entries, in line with the accrual concept and the matching principles of generally accepted accounting principles.
Beginning inventory is $30,000. Purchases of inventory during the year are $50,000. Cost of goods sold is $60,000. What is ending inventory?
countries A,B, and C with respective total populations 50 million, 18 million, and 15 million also have annual GDP as:
A - 428$ billion, B- 20$ billion, and C- $7billion, what are the countries; annual GDP per person
A) A= $466 , B= 1111 and C = 8560
B) no correct option
C) A= $1111 B= 466 and C = 8560
D) A = $8560 ,B= $11111 and C= 466$
Answer: D. A = $8560 ,B= $11111 and C= 466$
Explanation:
Country A
Annual GDP = $428 billion
Population = 50 million
Annual GDP per person = $428 billion / 50 million = $8560
Country B
Annual GDP = $20 billion
Population = 18 million
Annual GDP per person = $20 billion / 18 million = $1111
Country C
Annual GDP = $7 billion
Population = 15 million
Annual GDP per person = $7 billion / 15 million = $466.
The correct option is D.
A sequence aligned with creating and evaluating an information system or resource includes:________.
a. Model formulation
b. System developement
c. System deployment
d. Study of effects
Answer:
C. System development
Explanation:
The sequence that is aligned with creating and evaluating an information system or resource includes system development
What is information system?An information system (IS) is a formal, sociotechnical, organizational system designed to collect, process, store, and distribute information. From a sociotechnical perspective, information systems are composed by four components: task, people, structure (or roles), and technology.
Information systems can be defined as an integration of components for collection, storage and processing of data of which the data is used to provide information, contribute to knowledge as well as digital products that facilitate decision making.
A computer information system is a system that is composed of people and computers that processes or interprets information. The term is also sometimes used to simply refer to a computer system with software installed.
What is system development?In systems engineering, information systems and software engineering, the systems development life cycle (SDLC), also referred to as the application development life-cycle, is a process for planning, creating, testing, and deploying an information system.
The systems development life cycle concept applies to a range of hardware and software configurations, as a system can be composed of hardware only, software only, or a combination of both.
There are usually six stages in systems development cycle: requirement analysis, design, development and testing, implementation, documentation, and evaluation.
Hence, option C is the correct answer
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What is Company XYZ's intrinsic equity value using the WACC as the discount rate and assuming the terminal value is based on the EBITDA exit multiple
Answer:
$315,198
Explanation:
WACC = [ Equity / Total value ] * cost of equity + [ Debt / Total value ] * Cost of debt.
WACC = 11.5%
Exit multiple = Total cash outflow / Total cash inflow
Exit multiple = $120,000 / 36,000 = 3.3x
EBITDA of the company is $178,412.
valued at $850,000 by a real estate expert. The president of the company is questioning the accuracy of the firm’s latest balance sheet because it shows a book value of $550,000 for the building. How would you explain this situation to the president
Question Completion:
A building owned by Hopewell Company was recently valued at $850,000 by a real estate expert.
Answer:
Book Value and Fair Value
There is a difference between the book value and the fair value of an asset. The book value is based on the asset's historical cost. The fair value is the current market price of the asset. In reporting long-term assets, the acceptable basis is the historical cost or the cost of acquiring the asset. This cost is further reduced by annual depreciation charges. The fair value is not often the acceptable basis for reporting long-term assets unless the entity is no longer a going concern or the asset has suffered an impairment loss.
Explanation:
a) Data and Calculation:
Fair value by a real estate expert = $850,000
Book value (historical cost) = $550,000
Difference between fair value and book value = $300,000
The explanation regarding the given situation is described below:
It considered the fair value of the asset at the time of valuation of an asset. At the time of valuation of the asset in the balance sheet, the asset should be recorded like = cost of the asset - depreciation. The asset valuation should be recorded at the book value always not the fair value.Learn more: brainly.com/question/17429689
A small toy store has organized its 10 inventory items on an annual dollar-volume basis. The information below shows the items, their annual demands, and unit costs. How should the store classify these items into groups A, B, and C?
Item Number Annual Volume (Units) Unit Cost ($)
Item 1 300 $10
Item 2 1000 $30
Item 3 500 $60
Item 4 100 $2
Item 5 1500 $20
Item 6 600 $50
Item 7 2000 $1.50
Item 8 900 $70
Item 9 1200 $2.00
Item 10 700 $40
Answer:
Classification:
Groups Annual Dollar-Volume
A Above $30,000:
Item Annual Volume Unit Cost Total Cost
Item 8 900 $70 $63,000
B Above $3,000:
Item Annual Volume Unit Cost Total Cost
Item 2 1,000 $30 $30,000
Item 3 500 $60 $30,000
Item 5 1,500 $20 $30,000
Item 6 600 $50 $30,000
Item 10 700 $40 $28,000
C $3,000 and Below
Item Annual Volume Unit Cost Total Cost
Item 1 300 $10 $3,000
Item 4 100 $2 $200
Item 7 2,000 $1.50 $3,000
Item 9 1,200 $2.00 $2,400
Explanation:
a) Data and Calculations:
Item Annual Volume Unit Cost Total Cost
Number (Units) ($) ($)
Item 1 300 $10 $3,000
Item 2 1,000 $30 $30,000
Item 3 500 $60 $30,000
Item 4 100 $2 $200
Item 5 1,500 $20 $30,000
Item 6 600 $50 $30,000
Item 7 2,000 $1.50 $3,000
Item 8 900 $70 $63,000
Item 9 1,200 $2.00 $2,400
Item 10 700 $40 $28,000
Louisville, Kentucky is debating a new business ordinance that will address sidewalks in its city. Members of the Louisville city council do not need to concern themselves with which of the following issues?
a. Environmental standards
b. Federally mandated restrictive covenants
c. Local taxes
d. Local zoning
e. Building codes
Answer: c. Local taxes
Explanation:
The city will have to take into account the relevant environmental standards when constructing the sidewalks. They will also have to factor in federally restrictive mandated covenants for legality.
Local zoning laws will also need to be taken into account so that the sidewalk is not built where it is not meant to be and building codes would be important as well. They however, do not need to be concerned about local taxes because the city will not charge itself tax for city maintenance work.
The council members do not need to be concerned about the local taxes.
Local taxes are the levies that are paid by the people living in the community to the local government.In this case, the issue is about Louisville, Kentucky addressing its sidewalks in the city, therefore the local taxes won't be an issue since it's not a local issue.The source of concern will be the environmental standards, Federally mandated restrictive covenants, local zoning and building codes.
Therefore, the correct option is C.
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Handy Home sells windows and doors in the ratio of 8:2 (windows:doors). The selling price of each window is $106 and of each door is $256. The variable cost of a window is $65.50 and of a door is $178.00. Fixed costs are $624,000.
Required:
a. Determine the selling price per composite unit.
b. Determine the variable costs per composite unit.
c. Determine the break-even point in composite units.
d. Determine the number of units of each product that will be sold at the break-even point.
Answer:
Results are below.
Explanation:
First, we need to calculate the sales proportion:
Windows= 8/10= 0.8
Doors= 2/10= 0.2
Now, the selling and unitary variable cost per composite unit:
Selling price= 106*0.8 + 256*0.2= $136
Unitary varaible price= 65.5*0.8 + 178*0.2= $88
The break-even point:
Break-even point (units)= Total fixed costs / Weighted average contribution margin
Break-even point (units)= 624,000 / (136 - 88)
Break-even point (units)= 13,000
Finally, the number of units for each product:
Windows= 13,000*0.8= 10,400
Doors= 13,000*0.2= 2,600
Sardi Inc. is considering whether to continue to make a component or to buy it from an outside supplier. The company uses 17,000 of the components each year. The unit product cost of the component according to the company's cost accounting system is given as follows:
Direct materials $ 8.20
Direct labor 8.30
Variable manufacturing overhead 1.20
Fixed manufacturing overhead 4.30
Unit product cost $ 22.00
Assume that direct labor is a variable cost. Of the fixed manufacturing overhead, 70% is avoidable if the component were bought from the outside supplier. In addition, making the component uses 2 minutes on the machine that is the company's current constraint. If the component were bought, time would be freed up for use on another product that requires 4 minutes on this machine and that has a contribution margin of $7.00 per unit. When deciding whether to make or buy the component, what cost of making the component should be compared to the price of buying the component?
A) $20.71 per unit.
B) $22.00 per unit.
C) $25.50 per unit.
D) $24.21 per unit.
The managing director of top dog companies
Answer:
What???
Explanation:
Jens-Peter Clausen. Managing Director and DE GmbH Partner.
Katrin Clausen. Manager.
Im not sure if my answer is right ▪_▪
The most significant real economic cost of high unemployment is: the potential goods and services that might have been produced but weren't. the money cost of retraining persons to obtain new jobs. the lost tax revenue that might have been paid by persons if they had worked. the money cost of unemployment insurance payments to the unemployed.
Answer:
the potential goods and services that might have been produced but weren't.
Explanation:
Unemployment occurs when those who are willing and able to work do not have jobs
Types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
Economic cost or implicit cost or opportunity cost is cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
One of the most significant economic cost of unemployment is the potential output lost as a result of unemployment
Broker Bill has the exclusive listing for Terri’s home. Bill brought Terri an offer from Alexis, which Terri accepted. In order to expedite the transaction, Bill offered to handle the escrow if both Terri and Alexis agreed. Which statement is true?
Answer: Bill's offer is ethical and legal and he can accept compensation for handling the escrow.
Explanation:
An exclusive listing refers to the type of real estate listing agreement whereby a broker is chosen as the sole agent of the seller. It should be noted that the right to retain the property is held by the seller rand has no obligation to the broker.
Based on the information given, it can be infered that Bill's offer is ethical and legal and he can accept compensation for handling the escrow.
Most investors have an expected outcome associated with an investment, and risk refers to the potential for receiving an outcome or return that is greater or less than his or her expected return. It is not surprising that investors _____________ receiving investment returns that exceed their expected return, but they tend to respond differently if the investment can generate a lower return. This potential for ______________ outcome is the risk on which most investors focus.
Answer:
dont mind
negative or downside
Explanation:
In the case when the investors mostly have a predicted outcome that attached with an investment also the risk means the potential that collect an return that could be more or less as compared to the expected return. So here the investor should dont mind with the investment that they received also it is more than the expected return but at the same time they will response differently when the investment have a less return. This could be negative or downside result based on the risk where mostly investor focused
Journalizing transactions using the direct write-off method versus the allowance method During August 2018, Lima Company recorded the following
. Sales of $133,300 ($122,000 on account $11,300 for cash). Ignore Cost of Goods Sold.
. Collections on account, $106,400.
. Write-offs of uncollectible receivables, $990.
. Recovery of receivable previously written off, $800.
Requirements
1. Journalize Lima's transactions during August 2018, assuming Lima uses the direct write-off method
2. Journalize Lima's transactions during August 2018, assuming Lima uses the allowance method.
Answer:
Lima Company
Journal Entries during August 2018:
1. Direct write-off method:
Debit Accounts Receivable $122,000
Debit Cash $11,300
Credit Sales Revenue $133,300
To record the sale of goods on credit and for cash.
Debit Cash $106,400
Credit Accounts Receivable $106,400
To record the cash receipts on account.
Debit Bad Debts Expense $990
Credit Accounts Receivable $990
To write-off uncollectible accounts.
Debit Cash $800
Credit Bad Debts Expense $800
To record the recovery of previously written off accounts.
2. Allowance Method:
Debit Accounts Receivable $122,000
Debit Cash $11,300
Credit Sales Revenue $133,300
To record the sale of goods on credit and for cash.
Debit Cash $106,400
Credit Accounts Receivable $106,400
To record the cash receipts on account.
Debit Allowance for Uncollectible Accounts $990
Credit Accounts Receivable $990
To record the write-off of uncollectible accounts.
Debit Accounts Receivable $800
Credit Allowance for Uncollectible Accounts $800
To reinstate the recovery of previously written off accounts.
Debit Cash $800
Credit Accounts Receivable $800
To record the recovery of previously written off accounts.
Explanation:
a) Data and Analysis:
1. Direct write-off method:
Accounts Receivable $122,000 Cash $11,300 Sales Revenue $133,300
Cash $106,400 Accounts Receivable $106,400
Bad Debts Expense $990 Accounts Receivable $990
Cash $800 Bad Debts $800
2. Allowance Method:
Accounts Receivable $122,000 Cash $11,300 Sales Revenue $133,300
Cash $106,400 Accounts Receivable $106,400
Allowance for Uncollectible Accounts $990 Accounts Receivable $990
Accounts Receivable $800 Allowance for Uncollectible Accounts $800
Cash $800 Accounts Receivable $800
If the price level is 100 for 1996 and the price level is 103.3 in 1998, a nominal GDP in 1998 of $8,800 billion would mean that real GDP in 1998 (in 1996 prices) would be closest to:_______
a. $9.090.4 billion.
b. $8,518.9 billion.
c. $8,800 billion.
d. $8696.7 billion
Answer: b. $8,518.9 billion.
Explanation:
Nominal GDP is calculated with current prices which means that the effects of inflation are present.
Real GDP removes this effect by basing the GDP calculation on the prices of a previous period:
Real GDP = Nominal GDP * 100/ Price level
= 8,800 * 100/ 103.3
= $8,518.877
= $8,518.9 billion
Riverbed Corp. enters into a contract with a customer to build an apartment building for $1,013,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $152,100 to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $50,700 each week that completion is delayed. Riverbed commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:
Completed by Probability
August 1, 2021 70%
August 8, 2021 20
August 15, 2021 5
After August 15, 2021 5
Required:
Determine the transaction price for this contract.
Answer: $1,142,585
Explanation:
The transaction price is the contract price in addition to the expected value of the performance bonuses based on its probabilities.
= Contract price + Expected value of bonus
Bonus is to reduce by $50,700 for every week so:
Expected value of bonus = (152,100 * 70%) + ( (152,700 - 50,700) * 20%) + ( (152,700 - 50,700 - 50,700) * 5%) + ( (152,700 - 50,700 - 50,700 - 50,700) * 5%)
= $129,285
Transaction price = 1,013,300 + 129,285
= $1,142,585
Income statement information for Einsworth Corporation follows: Sales $1,500,000 Cost of goods sold 900,000 Gross profit 600,000 Prepare a vertical analysis of the income statement for Einsworth Corporation.
Answer:
A vertical analysis income statement uses Sales as a base and makes everything else a percentage of sales.
Vertical Analysis Statement
Amount Percentage
Sales $1,500,000 100%
Cost of Goods sold ($900,000) 60%
Gross Profit $600,000 40%
Cost of Goods sold percentage = 900,000 / 1,500,000
= 60%
Gross Profit percentage = 600,000 / 1,500,000
= 40%
Stan’s Sporting Goods is a competitor that can manufacture seven soccer balls out of a possible ten, if it makes one soccer net. Which statement correctly compares the two businesses?
Sabrina’s Soccer has a comparative advantage over Stan’s Sporting Goods because Sabrina’s Soccer has a lower opportunity cost.
Stan’s Sporting Goods has a comparative advantage over Sabrina’s Soccer because Stan’s Sporting Goods has a lower opportunity cost.
Sabrina’s Soccer has an absolute advantage over Stan’s Sporting Goods because Sabrina’s Soccer has a lower production cost.
Stan’s Sporting Goods has an absolute advantage over Sabrina’s Soccer because Stan’s Sporting Goods has a lower production cost.
Answer:
Sabrina’s Soccer has a comparative advantage over Stan’s Sporting Goods because Sabrina’s Soccer has a lower opportunity cost.
Answer: A
Explanation: PogChamp
traight-line depreciation is a typical example of a: Multiple Choice curvilinear cost. mixed cost. variable cost. fixed cost. step-variable cost.
Answer:
fixed cost.
Explanation:
Straight-line depreciation is a typical example of a fixed cost.