Unit 4 Test
Quiz
•
Business
•
10th Grade
•
Medium
Sandee Oliver
Used 3+ times
FREE Resource
45 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a characteristic of variable expenses?
They fluctuate with sales volume
They are constant regardless of sales
They are important for profit calculations
They vary with the level of production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does labor refer to in variable expenses?
Labor refers to the cost of machinery.
Labor refers to the amount of money paid for someone's time.
Labor refers to the cost of materials.
Labor refers to the cost of utilities.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of 'Other' variable expenses?
Buying raw materials
Paying for electricity
Paying UPS to package or ship a product
Purchasing new machinery
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT related to making the product or delivering the service?
Materials
Labor
Advertising
Cost of Goods Sold
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another term for Cost of Goods Sold?
Cost of Services Sold
Cost of Sales
Cost of Operations
Cost of Inventory
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a variable expense?
Rent
Materials
Insurance
Salaries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of labor is typically for part-time employees working less than 40 hours a week?
Salary
Commission
Hourly
Fixed
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