160-Business-Costs-Basics

160-Business-Costs-Basics - Name: Date Taken: Class: Total...

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Unformatted text preview: Name: Date Taken: Class: Total Possible Marks: 29 Business Costs Complete the following questions in the time allowed by your teacher QUICK DEFINITIONS Write a short, accurate definition for each of the following key terms. (2 marks for each good quality definition) 2 1. Define: fixed costs 2 2. Define: variable costs 2 3. Define: output 2 4. Define: set-up costs 2 5. Define: indirect costs www.tutor2u.net -1- -2- QUICK LISTS In this section, provide an outline or list points which answer the question 4 6. List four examples of the kind of fixed costs that would be incurred by an advertising agency A. B. C. D. E. 7. List four examples of variable costs which are likely to be incurred by a 4 manufacturer of supermarket ready meals A. B. C. D. E. 8. List three examples of costs which are typically incurred by a new business or for a 3 new product which doesn't continue post launch A. B. C. D. E. www.tutor2u.net -2- -3- Short Answers In this section, write a short answer (one or two sentences) for each question. 4 9. Explain the concept of average or unit cost: 4 10. Describe, using examples, what are meant by "overheads" www.tutor2u.net -3- ...
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This note was uploaded on 02/08/2012 for the course FIN FIN4345 taught by Professor Koij during the Spring '10 term at FIU.

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160-Business-Costs-Basics - Name: Date Taken: Class: Total...

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