BTEC Unit 2 Finance Assessment

Quiz
•
Business
•
7th - 12th Grade
•
Medium
Adrian Darrell
Used 63+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a direct cost?
Costs that increase directly with changes in production or output.
The costs directly involved in making one product.
Costs that remain the same regardless of how many items you make or sell.
Costs other than those involved in making the product.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is an indirect cost?
Costs that increase directly with changes in production or output.
The costs directly involved in making one product.
Costs that remain the same regardless of how many items you make or sell.
Costs other than those involved in making the product.
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a fixed cost?
Costs that increase directly with changes in production or output.
The costs directly involved in making one product.
Costs that remain the same regardless of how many items you make or sell.
Costs other than those involved in making the product.
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a variable cost?
Costs that increase directly with changes in production or output.
The costs directly involved in making one product.
Costs that remain the same regardless of how many items you make or sell.
Costs other than those involved in making the product.
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a total cost?
Costs that increase directly with changes in production or output.
The costs directly involved in making one product.
Costs that remain the same regardless of how many items you make or sell.
Costs other than those involved in making the product.
Fixed Costs + Variable Costs
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following would be a direct cost of a kitchen knife?
Advertising
The metal in the blade
Rent
Salaries
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following would be a fixed cost of a wood yard?
Petrol for the van
Wood
Electricity
Salary of office staff
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