Cost and Commission Quiz

A date on which the money borrowed or loan is to be completely repaid.

•  loan date       

• maturity date

• origin date

• term

Which of the following individual earns commissions?

• Tricycle Driver

• Teacher

• Insurance Agents

• Clerks

This is similar to computing straight commission which is computed by directly multiplying the commission rate to the total amount of sales.

• Commission on cash basis

• Graduated

• Salary + Commission

• Commission on installment

What type of cost varies depending on the quantity of products being produced?

• fixed

• net sales

• total

• variable

Which of the following is the formula for break-even point?

• BEP=Fixed costSelling Price-Variable Cost

• BEP=Selling Price×Variable Cost

• BEP=Selling Price-Fixed Cost

• BEP=Fixed Cost+Variable Cost

These are employees who are not paid less if they work for only a fraction of the required number of hours of work.

• salary earner

• income earner

• wage earner

• benefit earner

It is a fixed amount usually associated with employee compensation usually received on a monthly or semi-monthly basis, but it may be quoted in an annual sum.

• salary

• income

• wage

• benefit

It refers to the amount of money spent for raw materials used in the production of the goods including the labor, utility expenses, and commissions. This means that this cost varies depending on the number of units of goods produced.

• selling price

• total cost

• variable cost

• fixed cost

This is the cost of expenses that does not vary over time on a certain relevant range, the number of products sold, and production of goods to be sold. This may also include payment for lease and rental, salaries of workers, insurance, and interests.

• selling price

• total cost

• variable cost

• fixed cost

What do you call to the interest that is computed on the principal and also on the accumulated past interest?

• simple interest

• maturity value

• compound interest

• principal