BTEC Unit 2 Finance Assessment

BTEC Unit 2 Finance Assessment

7th - 12th Grade

30 Qs

quiz-placeholder

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BTEC Unit 2 Finance Assessment

BTEC Unit 2 Finance Assessment

Assessment

Quiz

Business

7th - 12th Grade

Medium

Created by

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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