What does cost typically refer to?

Understanding Cost and Price

Quiz
•
Business
•
1st Grade
•
Hard
Tabassum Mumtaz
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The profit from selling a product
The expense incurred for making a product or service
The amount a customer is willing to pay
The time taken to sell a product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What company is mentioned in the example?
Ford Motor Company
Apple Inc.
Amazon
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cost of parts used to build a car considered as?
Direct cost
Indirect cost
Hidden cost
Imaginary cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main topic of the text?
Direct cost
Indirect cost
Traveling
Cooking
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the text say about indirect costs?
They are always related to a product
They cannot be easily traced to a product
They are the same as direct costs
They are not important
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "fixed cost" imply about the cost's behavior?
It varies with production
It remains constant over the short term
It decreases with more production
It increases with less production
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Does the lease payment change with the number of products made?
Yes
No
Sometimes
Only if production stops
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