Choices for each question 1Variable Cost Volume Fixed Cost B

Choices for each question.

1.Variable Cost, Volume, Fixed Cost Break Even Point, Bottom Line

2. fixed cost, revenue, variable cost, break-even point, bottom line

3.total cost, bottom line, revenue, break-even point, net income

4.Incremental Cost, Variable Cost, Gross Cost, Net Cost, Fixed Cost

5.Variable Cost, Net Cost, Gross Cost, net Cost, Fixed Cost

6.Return on investment chart, Total revenue chart, total profit chart, break-even chart, profitability chart.

Concept Check What do we call the volume of product items that must be sold before a select company can start to make a profit? 2.What is the term for the amount of money received for the sale of select products (i.e., the number of product items sold multiplied by the price of each item)? 3What term is used to denote the sum of the fixed costs and the variable select costs? What term is used to denote the cost that will be incurred by a business,select even if it fails to sell anything? 5. What term is used to denote the cost that must be incurred in order to select acquire or produce one product unit? . What term is used to refer to the graph displaying lines for fixed costs, select total costs, and total revenue, as a way to show the number of units that must be sold in order to make a profit?

Solution

Question

Ans

Reason

What do we call the volume of product items that must be sold before a company can start to make profit

Breakeven point

Breakeven point is no profit no loss situation

What is the term for the amount of money received for the sale of products

Revenue

What term is used to denote the sum of the fixed costs and the variable costs?

Total Cost

Total cost =variable cost + fixed cost

What term is used to denote the cost that will be incurred by a business, even it fails to sell anything?

Fixed cost

Fixed cost is period cost, irrespective of no of units sold

What term is used to denote the cost must be incurred in order to acquire or produce one product unit?

Variable cost

Variable cost is product cost depends on how many units produced

What term is used to refer the graph displaying lines for fixed costs, total costs and total revenue, as a way to show the number of units that must be sold in order to make profit

Profitability chart

The chart tells how different levels of sales affect a companys profits

Question	Ans	Reason
What do we call the volume of product items that must be sold before a company can start to make profit	Breakeven point	Breakeven point is no profit no loss situation
What is the term for the amount of money received for the sale of products	Revenue
What term is used to denote the sum of the fixed costs and the variable costs?	Total Cost	Total cost =variable cost + fixed cost
What term is used to denote the cost that will be incurred by a business, even it fails to sell anything?	Fixed cost	Fixed cost is period cost, irrespective of no of units sold
What term is used to denote the cost must be incurred in order to acquire or produce one product unit?	Variable cost	Variable cost is product cost depends on how many units produced
What term is used to refer the graph displaying lines for fixed costs, total costs and total revenue, as a way to show the number of units that must be sold in order to make profit	Profitability chart	The chart tells how different levels of sales affect a companys profits