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20.2.1. Based on Nature/Elements
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12 questions on this section. Wrong answers show you what to read again.
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Revision test
Mixed questions from across the chapter. Your answers get marked.
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2 cards from this lesson. Good the night before a test.
Try these first
- 1.
Define direct costs with an example.
Hint
What costs can be counted directly to a product?
- 2.
What are indirect costs?
Hint
Think of costs that keep the business running but don't apply to one specific product.
- 3.
What are direct costs?
Hint
Think of costs that directly impact production.
- 4.
Indirect costs can be directly traced to a specific product.
Hint
Remember what indirect means?
- 5.
A company needs to calculate its total production costs. Direct costs total ₹1,00,000, and the indirect costs total ₹50,000. What percentage of the total costs are direct costs?
Hint
Think about calculating the proportion of total costs that are direct.
- 6.
Analyze the effects of treating a fixed cost as a variable cost in terms of budgeting inaccuracies.
Hint
Ponder the nature of fixed costs in review of budgeting.
Exercises
Total Questions
2
Estimated Time
4 min
Passing Score
70%
Instructions
- Read each question carefully
- You can use hints if you need help
- Complete all questions before submitting
4 more questions available
Enrol freeQuiz
Total Questions
2
Estimated Time
4 min
Passing Score
70%
Instructions
- Read each question carefully
- You can use hints if you need help
- Complete all questions before submitting
2 more questions available
Enrol freeChallenge Problems
Total Questions
2
Estimated Time
4 min
Passing Score
70%
Instructions
- Read each question carefully
- You can use hints if you need help
- Complete all questions before submitting