Practice Based on Nature/Elements - 20.2.1 | 20. Cost Accounting Basics – Types of Costs | Management 1 (Organizational Behaviour/Finance & Accounting)
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define direct costs with an example.

💡 Hint: What costs can be counted directly to a product?

Question 2

Easy

What are indirect costs?

💡 Hint: Think of costs that keep the business running but don't apply to one specific product.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What are direct costs?

💡 Hint: Think of costs that directly impact production.

Question 2

Indirect costs can be directly traced to a specific product.

💡 Hint: Remember what indirect means?

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

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.

Question 2

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.

Challenge and get performance evaluation