3. Finance and Accounts
Fixed, Variable, And Semi-variable Costs — Quiz
Test your understanding of fixed, variable, and semi-variable costs with 5 practice questions.
Practice Questions
Question 1
Which statement best describes a fixed cost in a business?
Question 2
Which of the following is most likely a variable cost?
Question 3
What is the best example of a semi-variable cost?
Question 4
If a bakery pays $500$ each month for rent and $2$ for each cake baked, what type of cost is the $500$ rent?
Question 5
A business has total costs of $1,200$ when output is $100$ units and total costs of $1,700$ when output is $200$ units. What is the most likely variable cost per unit?