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Cost Accounting Practices for Pricing Decisions - Quiz & Worksheet

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following best describes fixed costs?

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1. Identify which of the following is a variable cost.

2. What is a cost plus pricing strategy?

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About This Quiz & Worksheet

Using the quiz and worksheet helps you test your comprehension of cost accounting practices for pricing decisions. Different types of costs are covered on the quiz.

Quiz & Worksheet Goals

Take the quiz to check your understanding of:

  • A cost plus pricing strategy
  • Market pricing strategy
  • The meaning of a fixed cost
  • An example of a variable cost

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about variable and fixed costs
  • Information recall - access the knowledge you have gained about how average fixed costs affect the pricing decision
  • Interpreting information - verify that you can read information about how a market pricing strategy works and interpret it correctly

Additional Learning

Cost Accounting Practices for Pricing Decisions is a lesson you can review any time, gaining more knowledge about:

  • The meaning of cost accounting
  • Types of costs
  • Purpose of cost plus and market pricing strategies
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