TEC Assessment 4 Answers : TEC Question Answer Key 2024 | TEC Assessment Answers pdf | ( Understanding Cost Structures )

 

TEC Assessment 4 Answers

Understanding Cost Structures

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TEC Exam Questions and Answers:Understanding Cost Structures

1. ________ costs are those that have been completely consumed or the benefits from which have been received by the business.

A) Expired Costs
B) Unexpired Costs
C) Direct Costs
D) Indirect Costs 

ANSWER= (B) Unexpired Costs

 

2. Costs that do not vary in the short term, regardless of changes in output levels, are called ________ costs.

A) Direct Cost
B) Indirect Cost
C) Fixed Cost 
D) Expired Cost

ANSWER= (A) Direct Cost

 

3. etail companies like Reliance Fresh, D-Mart, Big Bazaar have __________ to a __________ degree of conversion.

A) Low to Medium 
B) Medium to High
C) Low to High 
D) High to Medium 

ANSWER= (A)  Low to High 

 

Read More : TEC Assessment 5 Answers : TEC Question Answer Key 2021 | TEC Assessment Answers pdf | ( Long Term Orientation )

4.  _________ cost includes salaries, bonuses, insurance, pension benefits, earned leave paid to the individuals involved.

A) Surplus 
B) Direct Material Cost
C) Direct Labour Cost 
D) Unexpired Costs

ANSWER= (A) Surplus 

 

5. _________ is the monetary value of resources, like material, labour and overheads, used in the making of a product or delivery of a service.

A) Inputs
B) Receivables 
C) Inventories
D) Cost

ANSWER= (D) Cost

 

6.Costs that vary with the output levels are called variable costs 

A) Product Cost
B) Direct Material Cost
C) Variable Cost
D) Fixed Cost

ANSWER= (B) Direct Material Cost

 

7. Direct vs indirect costs are based their association with different cost objects. 

A) TRUE 
B) FALSE

ANSWER= (A) TRUE 

 

Read More : TEC Assessment 5Answers : TEC Question Answer Key 2021 | TEC Assessment Answers pdf | ( Recording Business Transactions ) 

8.  __________ is the cost of any material directly used in the production of the output. 

A)Expired Cost 
B) Product Cost 
C) Direct Material Cost 
D) Unexpired Costs 

ANSWER= (A) Product Cost

 

9.Cost allocation is a method through which a business allocates or distributes an indirect cost across various cost objects..

A)TRUE 
B) FALSE 

ANSWER= (A) TRUE 

 

10. ____________ the key determinants of the cost of goods sold (COGS), which appears on the P&L statement.

A) Indirect Cost
B) Fixed Cost
C) Expired Cost 
D) Product Cost 

ANSWER= (D) Product Cost 

All TEC Final Exam Answer Key 2024 

• TEC Assessment 1 Answers -   Click Here

• TEC Assessment 2 Answers -   Click Here

• TEC Assessment 3 Answers -   Click Here

• TEC Assessment 4 Answers -   Click Here

• TEC Assessment 5 Answers -   Click Here

• TEC Assessment 6 Answers -   Click Here

• TEC Assessment 7 Answers -   Click Here

• TEC Assessment 8 Answers -   Click Here

• TEC Assessment 9 Answers -   Click Here

• TEC Assessment 10 Answers - Click Here

• FINAL Assessment Answers -  Click Here

• TEC Assessment Answers pdf- Click Here

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