Identifying Relevant Costs in Accepting an Order


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question 1 of 3

Which of these should a price NEVER be set below?

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1. What is a special order?

2. Which of the following is a fixed cost?

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About This Quiz & Worksheet

Placing and accepting orders can come with expenses, and this quiz will measure what you know specifically regarding relevant costs. Questions on the quiz provide terms in which you must choose the appropriate definition or explanation.

Quiz & Worksheet Goals

With the aid of these assessment tools, you can figure out what you recall about:

  • Price setting
  • Special orders
  • Variable costs
  • Fixed costs
  • Relevant costs

Skills Practiced

Use this quiz and worksheet to refine the following skills:

  • Interpreting information - verify that you can read information regarding special orders and interpret it correctly
  • Defining key concepts - ensure that you can accurately define main phrases, such as relevant costs and variable costs
  • Knowledge application - use your knowledge to answer questions about fixed costs

Additional Learning

If you open the Identifying Relevant Costs in Accepting an Order lesson, you can find all the details concerning answers to the quiz questions as well as supplemental information. Some of the additional topics addressed are as follows:

  • Categories of relevant costs
  • Cost considerations for rushed orders
  • Making cost-based business decisions