
MIDTERM EXAMINATION
Authored by Karen Buenconcejo
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1.
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30 sec • 1 pt
Semi-variable cost is a cost composed of a mixture of both fixed and variable components.
2.
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30 sec • 1 pt
The Company’s efforts to increase output will probably necessitate more power or energy, which will lead to a decrease in variable utility costs.
3.
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30 sec • 1 pt
The Cost of goods sold are expenses that remain the same regardless of production output.
4.
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30 sec • 1 pt
Profit is calculated as total revenue less total expenses.
5.
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30 sec • 1 pt
Net income is the result of several calculations that start with revenue and include all costs and sources of income for a specific period.
6.
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30 sec • 1 pt
Fixed cost is a type of business expense that fluctuates according to how much a company produces or sells.
7.
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30 sec • 1 pt
Raw materials are the direct goods purchased that are eventually turned into a final product.
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