BFF1922 Quiz 1

............ costs are those that have occurred in the past and have no relevance to estimates of future costs and revenues.

• Nonrecurring

• Variable

• Sunk

• Indirect

............ costs are incurred because of the use of limited resources such that the ability to use those resources to monetary advantage in another way is foregone.

• Direct

• Fixed

• Recurring

• Opportunity

................ costs are those which unaffected by changes in activity level over a feasible range of operations for the capacity available

• Fixed

• Direct

• Variable

• Standard

................ costs in total, change in relation to the quantity of output or other measures of activity level.

• Nonrecurring

• Variable

• Opportunity

• Indirect

.............. cost refers to the additional cost that will result from increasing the output or other measures of activity level.

• Incremental

• Variable

• Indirect

• Recurring

............... costs are those that are repeatitive and occure when goods or services are produced on a continuing basis.

• Direct

• Fixed

• Recurring

• Incremental

............. costs can be reasonably measured and allocated to a specific output or work activity.

• Fixed

• Standard

• Sunk

• Direct

.............. costs are not repetitive even though the total expenditure may be cumulative over a relatively short period of time.

• Variable

• Nonrecurring

• Sunk

• Opportunity