Cost Concepts Quiz

Cost Concepts Quiz

11th Grade

100 Qs

quiz-placeholder

Similar activities

Fall 2020 Accounting 1 Mid-Term

Fall 2020 Accounting 1 Mid-Term

9th - 12th Grade

100 Qs

SEM - Midterm

SEM - Midterm

11th Grade

100 Qs

Financial Literacy 100-Questions

Financial Literacy 100-Questions

9th - 12th Grade

100 Qs

Cash Flow Understanding Quiz

Cash Flow Understanding Quiz

11th Grade

102 Qs

Accounting Cycle

Accounting Cycle

9th - 12th Grade

100 Qs

PED and YED Revision

PED and YED Revision

11th Grade

104 Qs

Accounting in Action

Accounting in Action

11th Grade

102 Qs

dig infra 4a

dig infra 4a

9th - 12th Grade

105 Qs

Cost Concepts Quiz

Cost Concepts Quiz

Assessment

Quiz

Business

11th Grade

Hard

Created by

Dr. Pravin Thorat

Used 1+ times

FREE Resource

100 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Private costs refer to:

Costs borne by the individual or firm

Costs borne by society

Total costs

Governmental costs

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Social costs are:

Only the private costs

Private costs plus external costs

Only external costs

Only government costs

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Economic costs include:

Depreciation and interest

Implicit costs

Opportunity costs

Explicit costs like wages and rent

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In the short run, the fixed costs are:

Only explicit costs

Costs that remain unchanged with changes in output

Total costs including both explicit and implicit costs

Government expenditure on public services

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Diseconomies of scale occur when:

All factors are variable

Average cost per unit increases

All factors are fixed

No costs are incurred

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The law of diminishing returns applies in the:

Long run

Short run

Both short run and long run

Neither short run nor long run

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The relationship between output and revenue is:

Variable costs

Costs that remain unchanged with changes in output

Total costs

The cost of raw materials

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?