In accounting, liabilities are obligations of the company to transfer something of value (an asset-see above) to another party. On a company s balance sheet, a liability may be a legal debt or an accrual, which is an estimate of an obligation. Equity is the owner's value in an asset or group of assets.
A stable variable power supply with an adjustable output voltage from 5 volts to 30 volts can be
Total variable cost (TVC) is the cost of the variable. factor of production used by a firm âthe cost of labor. To change its output in the short run, a firm must. change the quantity of labor it employs, so total variable. cost changes as output changes. Total cost is the sum of total fixed cost and total variable.