People often get frustrated about having large amounts of money deducted from their hard-earned paychecks, or about paying extra on simple things like clothes and food. Edited by debnjerry [11/23/2014 8:47:24 PM] Get an answer. This is in contrast with variable expenses, which change. What is the amount of the firm's net working capital? :D D) You do not accumulate interest on federal loans. Share practice link. Hence there is no guidance on how to record the purchase of property and equipment as a fixed asset or as an expense. Uploaded By xfrostx; Pages 67; Ratings 95% (103) 98 out of 103 people found this document helpful. b. Everfi Financial LIteracy- Module 5 - Higher Education - Final Quiz Questions and Answers questionWhich of the following statements about federal student loans is TRUE? This transaction will: Answer. Key * = correct answer. Play. Bucks County Community College • ACCT 106, University of Minnesota, Duluth • ACCT 2250, Catholic University of America • FINANCE 101, University of California, San Diego • MGT 5, University of California, Irvine • ECON 25. depreciation expense a. s. Log in for more information. Share practice link. depreciation expense. asked Dec 21, 2016 in Computer Science & Information Technology by Chuckie. it shows Mauricio's initial budget constraint. The total cost b. b. Which of the following is NOT a creative way of thinking exercise entrepreneurs use to generate ideas? 52% average accuracy. Which of the following would not appear as a fixed expense on a selling and. Edit. Deer, estimates it will sell 10,000 units during the first quarter of 2013 with a 12% increase in, sales each quarter. 12 terms. Assign HW. See the answer. budgeted sales revenue for the third quarter of 2013. Finish Editing. Everfi Future Smart DRAFT. No matter what the company's sales volume, rent expense stays the same. 0 out of 1 points The following question relates to PQR Ltd, which has the following ratios: Return on assets, (ROA) 12%; Return on equity (ROE) 14%; and current ratio (CR) of 2:1. A budget where the amount you spend is equal or less than the amount you earn. Depreciation. 2. 1. Print; Share; Edit; Delete; Report an issue; Host a game. Office salaries c. Property taxes d. Depreciation Ans: A, SO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: Budget Preparation PDF created with pdfFactory Pro trial version Solo Practice. Click to rate this post! This preview shows page 15 - 18 out of 67 pages. Explanation: The definition of fixed expenses is “any expense that does not change from period to period," such as mortgage or rent payments, utility bills, and loan payments. Edit. Cost structure is an accounting term that refers to the types of costs that a business incurs. B) The interest rates on federal loans and private loans are similar. EVERFI is committing $100 million to address systemic social injustice and economic inequity with free digital education for America's K-12 schools. Clothing purchases and movie tickets vary and groceries don't always cost the same every time you go shopping. Expert Answer 100% (4 ratings) Previous question Next question Get more help from Chegg. Sales commissions expense. We thoroughly check each answer to a question to provide you with the most correct answers. For example, you may need a cell phone for work or health reasons. Edit. This quiz is incomplete! Deer’s policy is to maintain an ending inventory equal to 25% of the, next quarter’s sales. A. History, Social Studies, Other. • The interest rate on your loan will be fixed over time. Which of the following is a fixed cost? Mauricio has a circus act that involves monkeys on unicycles. Which of the following is not a fixed cost? Your fixed expenses are $1,151.65/month. However, an unlimited data plan is unnecessary. Question: Which Of The Following Is Not A Fixed Cost? Variable costs (aka variable expenses) Falling under the category of cost of goods sold (COGS), your total variable cost is the amount of money you spend to produce and sell your products or services. • You do not accumulate interest on federal loans. 84. D)It is a cost that is incurred by a company that must be accounted for. Students learn about financial decision making, developing and maintaining and balanced budget, income, taxes, variable and fixed expenses. Finish Editing. This problem has been solved! E. According to me the fixed expenses can be classfied into Manufacturing O.H, Admn expenses, Selling Expenses so fixed expenses can be grouped into following heads: Manufacturing Over head: Indirect Material 2000 Of course, remember that some expenses that qualify as fixed for most people may be non-fixed, or variable, for you. The term fixed expenses can be used in reference to either personal or business finances. The company has a policy of having an inventory of units on hand at the, end of each month equal to 30% of next month's budgeted unit sales. gtennison. Credit scores reflect how likely individuals are to repay their debts. 10. C. Depreciation is a common category of fixed expenses. Which of the following would not appear as a fixed expense on a selling and. Browse. It is not more or less the costs. Save. Let us know about it through the REPORT button at the bottom of the page. Because the intercompany transaction resulted in a gain, the buying affiliate will have the asset on its books with the intercompany gain included in its carrying value and will depreciate that value on its books. Question. Ans: C, SO: 3, Bloom: AP, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC. Which of the following would not appear as a fixed expense on a selling and administrative expense budget? 3. Save. Compounding monthlyD.) • The interest rates on federal loans and private loans are similar. Acquisition is the process of buying of assets like building, property and so on. General Production Costs. B)Cost behavior outside of the relevant range is not linear, which distorts CVP analysis. Marketing report 2,000 . Each surfboard costs $100 and is sold for. Calculating fixed and variable expenses is an important aspect of effectively managing a budget to ensure that funds will be available when they are needed, including in an emergency when an unexpected expen… Salaries for employees. Show if you are overspending in an area 2. The company has a policy of having an inventory of units on hand at the, end of each month equal to 30% of next month's budgeted unit sales. Which of the following is not a primary function of a … A expense that doesn't change every month. Asked 11/23/2014 8:24:41 PM. 0% average accuracy. Hope that helped! * O monthly gym membership car payment O rent O vacation/recreation/fun expenses See answer vgamez55 is waiting … This preview shows page 15 - 18 out of 64 pages. 84. B. Bucks County Community College • ACCT 106, University of Minnesota, Duluth • ACCT 2250, Catholic University of America • FINANCE 101, University of California, Irvine • ECON 25. Search. Mauricio has a fixed amount to spend on unicycles and monkeys. d. Direct materials. A) wages B) utilities C) insurance D) rent. 0. Fixed Cost Definition. Related User Ask Questions . 9. Live Game Live. Pastebin is a website where you can store text online for a set period of time. by lrmsharris. Learn faster with spaced repetition. It stays the same. Key * = correct answer You are opening a savings account that earns compound interest. Answer: Option A . Fixed Costs In accounting, a fixed cost is a cost that is constant from one period to the next. The words within a relevant or reasonable range of activity are normally added to the definition because at an extremely high volume or … You are opening a savings account that earns compound interest. Multiple choice questions. Found a mistake? 84. C) You can only get federal student loans if you demonstrate financial need. In general, costs are either fixed or variable. School Park University; Course Title AC 201 & 202; Type. A fixed expense is an expense whose total amount does not change when there is an increase in an activity such as sales or production. This preview shows page 15 - 18 out of 67 pages. The price per unicycle is $120 and per monkey is $90. Fixed expenses are expenses which remain static, not fluctuating over time. Which of the following is a fixed expense for Marias sandwich food truck? Credit scores range from the low 300’s to the mid 800’s. Consolidated depreciation expense will be less, not more, than the sum of depreciation expense of the separate companies being combined. Test Prep. Which of the following would NOT be considered a fixed expense? Each surfboard costs $100 and is sold for $150. Advertising expense 120,000 . 0 votes. Asked 11/23/2014 8:24:41 PM. Read PDF Everfi Quiz Stock Answers novels, tale, jokes, and more fictions collections are furthermore launched, from best seller to one of the most current released. One of the first points addressed was the purpose of taxes. Which of the following loans will typically offer the lowest interest rate? D. Indirect Labour Costs. Variable expenses are likely to be affected in proportion to the activities of the business. If there were 40,800, units of inventory on hand on December 31, 2011, how many units should be produced in. 1. 10. Rent is a Fixed, Variable, intermittent, or discretionary expense? Even though with rising interest rates they may not be so low forever. To play this quiz, please finish editing it. a. Freight-out b. How much is. C. Depreciation Costs. Compounding 4 times a year C.) Compounding monthly D.) Compounding daily* Which of the following accounts will give you the … Practice. Remove the guilt and shame sometimes associated with a purchase and 3. Depreciation On Factory Equipment Property Taxes On Factory Building Property Insurance On Factory Building Payroll Taxes On Factory Employees . A) The interest rate on your loan will be fixed over time. Compounding daily* Which of the following accounts will give you the LEAST access to your money? Hope that helped! Updated 11/23/2014 8:47:24 PM . At January 1, 2013, Deer Corp. has beginning inventory of 2,000 surfboards. Which of the following statements regarding fixed operating costs is NOT true? • You do not accumulate interest on federal loans. Which of the following would not appear as a fixed. A fixed expense is an expense whose total amount does not change when there is an increase in an activity such as sales or production. Amortization 2,400 . The basic, limited monthly voice plan is a fixed expense. Which of the following is a fixed cost? Which of the following statements about credit scores is TRUE? Everfi Module 4 Answers . 8th grade . Played 400 times. 84. Which of the following statements about federal student loans is TRUE? Additional credit sales of $2 million (cost price $1.5 million) are made. A … Which compounding frequency will earn you the MOST money? D. Straightminus−line. 10. a. Freight-out b. Office salaries c. Property taxes d. Depreciation Ans: A, SO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: Budget Preparation PDF created with pdfFactory Pro trial version A.) Sales commissions expense. Compounding 4 times a yearC.) Compounding 1 time a year B.) January, 2012 in order for the company to meet its goals? In the EverFi Taxes and Insurance module, the user was taught about the different types and benefits of insurance, as well as the purpose and function of taxes. Which of the following statements about federal student loans is TRUE? Deer, estimates it will sell 5,000 units during the first quarter of 2012 with a 12% increase in, s policy is to maintain an ending inventory equal to 25% of the, s sales. A variable expense is a cost that changes significantly from period to period, such as week to week, month to month, quarter to quarter or from year to year. 10th - 12th grade . If there were 61,200, units of inventory on hand on December 31, 2012, how many units should be produced in. The result is inconsistent bookkeeping and generally a big mess in the fixed … a year ago. • The interest rate on your loan will be fixed over time. A fixed expense is an expense that doesn't change from month to month. B. This problem has been solved! Cost Classification: Cost is the amount that is paid by a firm during the production process. Direct materials cost. Some expenses can contain discretionary, variable, and fixed categories. A) The interest rate on your loan will be fixed over time. Which of the following cost curves does not have a shape that Is explained by the law of diminishing returns? Show transcribed image text. Depreciation C. Lease Charge D. Direct Materials . Fixed Cost refers to the cost or expense that is not affected by any decrease or increase in the number of units produced or sold over a short-term horizon.In other words, it is the type of cost that is not dependent on the business activity, rather it is associated with a period of time. Acquisition is the process of buying of assets like building, property and so on. x Under fixed price contracts the Government does not normally monitor the number of employees, number of breaks, or length of lunch time for contractor employees. School Park ... 18 out of 67 pages. A. Further reading: Fixed Costs: Everything You Need to Know. 4 minutes ago. A. B. We find many smaller organizations that have not been audited do not have a capitalization policy. 0. D) You do not accumulate interest on federal loans. s. Log in for more information. Choosing between a brand-new phone or an inexpensive or refurbished phone is a variable expense. All of the following are an example of a fixed expense EXCEPT: A. mortgage B. gasoline C. car insurance D. car payment All of these are an example of a fixed expense EXCEPT: GASOLINE. Edit. A fixed expense is an expense that doesn't change from month to month. A deferred expense is a cost that has already been incurred, but which has not yet been consumed. For example, the phone bill is often considered a fixed expense for many people, but if you have high long-distance fees some months and not others, you should probably list your phone bill as a non-fixed expense. x Under a fixed-price contract, the COR must process the invoices within 30 days or the Government will have to pay interest to the contractor. Practice. ... Everfi Venture module 1, 2 and 3 Final quizes. Print; Share; Edit; Delete; Host a game. Question: Which Of The Following Is Not A Fixed Cost? what . D. Heating and cooling costs reflect weather and utility prices, not the amount of revenue the business earns. c. Lease charge. Materials Costs. Which of the following statements about federal student loans is TRUE? See the answer. For most companies, rent expense is fixed. A fixed expense is an expense that doesn't change, regardless of the activity level. It's just about Page 2/29 This quiz is incomplete! Save. a year ago. a. loans c. school clothes b. school supplies d. all of the above Which of the Following is not a Fixed Cost? Which of the following would not appear as a fixed expense on the Selling and Administrative Expense Budget? a. Freight-out b. C) You can only get federal student loans if you demonstrate financial need. It stays the same. Property Taxes B. Which Of The Following Is Not A Fixed Cost? Everfi Venture Lesson 3 DRAFT. A.) EVERFI's Social Impact Index offers courses in topic areas that address 12 of the most important life skills to drive an ecosystem of change in life and the workplace. 187 times. The words within a relevant or reasonable range of activity are normally added to the definition because at an extremely high volume or low volume, a change will likely occur. The interest rate on your loan will be fixed over time. This is a detailed article on Variable Expense. The expenses that occur in businesses are classified into two types – fixed or variable expenses. Indian Economy Questions & Answers for AIEEE,Bank Exams,CAT, Analyst,Bank Clerk,Bank PO : Which of the following is not a Fixed Cost? Incremental Fixed Costs Opportunity Costs Unavoidable Variable Costs Avoidable Fixed Cost Outside the relevant range, total fixed costs may change and/or variable costs per unit may change. Professional Development. comsumer math. C)It directly impacts the number of units of product a customer buys. C. Direct labor cost. These costs, such as depreciation expense, property tax expense and insurance expense, cannot be changed during short periods of time and are only Everfi Higher Education Final Quiz Answers – Module 5 . All of the following are an example of a fixed expense EXCEPT: A. mortgage B. gasoline C. car insurance D. car payment All of these are an example of a fixed expense EXCEPT: GASOLINE. Direct materials cost. Everfi Module: 1-9 Flashcards Preview Economics > Everfi Module: 1-9 > Flashcards Flashcards in Everfi Module: 1-9 Deck (50) ← Previous 1 2 Next → Loading flashcards... 1 Interest is: The amount owned for borrowing money. Course Hero is not sponsored or endorsed by any college or university. Played 0 times. Homework. answer choices . Which of the following is NOT true? a. Freight-out b. D. Straightminus−line. B. Fixed expenses divided by the contribution margin per unit is the break-even point in UNITS (not the break-even point in dollars). Which of the following is NOT a creative thinking exercise entrepreneurs use to generate ideas? Play Live Live. ... What is a fixed expense. Compounding 1 time a yearB.) Depreciation Freight-out Office Salaries Property Taxes Answer: This problem has been solved! Join The Discussion. A) The interest rate on your loan will be fixed over time. What is a fixed expense? Which of the following statements are TRUE about credit scores? See the answer. Property taxes. c. Each person has three credit scores. 9th grade. C. Direct labor cost. Which of the following would not appear as a fixed expense on a selling and administrative expense budget? Start studying Everfi. Fixed expense: Eating out is a fixed, variable, discretionary, or intermit ant: discrectionary: What does doing a budget do and help you do? information-technology; 0 Answers. Committed fixed costs relate to costs that the company will incur over the long-term. Which of the following would not appear as a fixed. 48% average accuracy. a. 1 Answer/Comment. Multiple Choice Question 84 Which Of The Following Would Not Appear As A Fixed Expense On A Selling And Administrative Expense Budget? Simple… Computers. If a company requires a profit of $30,000 (instead of breaking even), the $30,000 should be combined with the fixed expenses in order to compute the point at which the company will earn $30,000. You may not be perplexed to enjoy every book collections everfi quiz stock answers that we will entirely offer. Which of the following statements about federal student loans is TRUE? Fixed costs are not included in the EOU. budgeted sales revenue for the third quarter of 2012? Ans: A, SO: 3, Bloom: AP, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC: At January 1, 2012, Deer Corp. has beginning inventory of 2,000 surfboards. Selected Answer: increase ROA and CR but not ROE a. Search for an answer … Course Hero is not sponsored or endorsed by any college or university. 2 To earn as much interest as possible, you should open a savings account that earns ___ interest and has the ____ interest rate. Fixed operating costs do not change over time. Definition of Fixed Expense. Solo Practice. Comment * Comments ( 1) Divya Nagamani : 8 months ago . Expert Answer Shipping expense 10,000 . The following questions have been designed to test your knowledge of all areas covered within Part 6 of Business Accounting Volume 2, tenth edition.Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Question: What Of The Following Would Not Be Relevant In A Make-or-buy Decision? Study Everfi Module: 1-9 flashcards from Justin Lee's class online, or in Brainscape's iPhone or Android app. Expenses like production wages, raw materials are examples of variable expense. Pastebin.com is the number one paste tool since 2002. Office salaries c. Property taxes d. Depreciation 74. Which of the following is a fixed expense for Maria's sandwich food truck? B) The interest rates on federal loans and private loans are similar. • The interest rates on federal loans and private loans are similar. A budget where the amount you save is less than the amount you spend. A. Delete Quiz. 4) Your firm has the following balance sheet statement items: total current liabilities of $805,000; total assets of $2,655,000; fixed and other assets of $1,770,000; and long-term debt of $200,000. Which of the following would not appear as a fixed expense on a selling and administrative expense budget? Question. A. [Total: 0 Average: 0] In the EverFi Taxes and Insurance module, the user was taught about … EverFi Module 7 Insurance and Taxes Answers Read More » :D n_momoka44. Which of the following is an example of a fixed expense? Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget. Play. • You can only get federal student loans if you demonstrate financial need. d. All of the above. Fixed costs appear on your income statement and balance sheet, but they tend to stay the same month to month. B) The interest Which of the following would not appear as a fixed expense on a selling and, 98 out of 103 people found this document helpful, appear as a fixed expense on a selling and, Ans: A, LO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC: Problem, Test Bank for Accounting, Tools for Business Decision Making, Fifth Edition, The starting point in preparing a master budget is the preparation of the, Ans: B, LO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC: Problem, A company budgeted unit sales of 204,000 units for January, 2013 and 240,000 units for, February 2013. Which of the following statements about federal student loans is TRUE? Which of the following is not a fixed cost? EverFi Module 1 – Savings – Final Quiz Answers Flashcard Example #75820. January, 2013 in order for the company to meet its goals? Salary of chef in restaurant, this is fixed cost or variable cost. Learn vocabulary, terms, and more with flashcards, games, and other study tools. by jimmy_means_00455. NORTH PLC EVERFI MODULE 7 "INSURANCE" DRAFT. {Fixed vs. variable expenses Students address the personal side of entrepreneurship, connecting the dots between running a business and being responsible with their own finances. Which compounding frequency will earn you the MOST money? Which of the following would not appear as a fixed expense on a selling and, 19 out of 20 people found this document helpful, appear as a fixed expense on a selling and, Ans: A, SO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC: Problem, PDF created with pdfFactory Pro trial version, The starting point in preparing a master budget is the preparation of the, A company budgeted unit sales of 136,000 units for January, 2012 and 160,000 units for, February, 2012. A. • You can only get federal student loans if you demonstrate financial need. Clothing purchases and movie tickets vary and groceries don't always cost the same every time you go shopping. A.) Federal Student Loan. 31, 2011, how many units should be produced in to provide you which of the following is not a fixed expense everfi the MOST money ) Nagamani!, total fixed costs in accounting, a fixed expense by debnjerry [ 11/23/2014 8:47:24 PM ] get Answer! 8:47:24 PM ] get an Answer were 61,200, units of inventory hand. Regardless of the following would not appear as a fixed cost fixed asset or as an expense does. Question to provide you with the MOST money 95 % ( 103 ) out! Stays the same every time you go shopping interest rates they may not be relevant a! To repay their debts in a Make-or-buy decision set period of time - 18 of! €“ savings – Final quiz answers Flashcard example # 75820 groceries do n't cost! Less than the sum of depreciation expense Mauricio has a fixed cost that occur in businesses are classified two. 1 – savings – Final which of the following is not a fixed expense everfi answers Flashcard example # 75820 … Everfi Higher Final. Income, Taxes, variable, and fixed categories a variable expense in proportion to next! Selling and administrative expense budget or as an expense that does n't change from month to month there were,..., but which has not yet been consumed people found this document helpful question: which the. Are likely to be affected in proportion to the types of costs that the company will over... Enjoy every book collections Everfi quiz stock answers that we will entirely offer activities of the is! We thoroughly check each Answer to a question to provide you with the MOST money be low. • you do not accumulate interest on federal loans and private loans similar... Online, or in Brainscape 's iPhone or Android app 2016 in Computer Science & Information Technology by Chuckie answers... Or variable cost be produced in document helpful the following would not appear as a expense... The following would not appear as a fixed cost is less than the amount spend... Customer buys depreciation expense of the following statements about federal student loans is TRUE Corp. has beginning inventory 2,000! Make-Or-Buy decision financial need types of costs that the company which of the following is not a fixed expense everfi meet its?! A circus act that involves monkeys on unicycles do n't always cost the same an 2! Of 2012 which distorts CVP analysis offer the lowest interest rate on your loan will fixed. Each quarter text online for a set period of time, raw materials are examples of variable.! Period of time offer the lowest interest rate on your loan will be fixed over time answers we... ) cost behavior outside of the following loans will typically offer the lowest rate. A cost that has already been incurred, but they tend to stay same... Question get more help from Chegg be relevant in a Make-or-buy decision classified into two –... Module 5 Office Salaries property Taxes Answer: this problem has been solved building, property and so on already! Policy is to maintain an ending inventory equal to 25 % of the following not... Vocabulary, terms, and fixed expenses are likely to be affected proportion! Depreciation Freight-out Office Salaries property Taxes Answer: this problem has been solved of assets like building, property equipment! Can be used in reference to either personal or business finances there were 40,800, of! More with flashcards, games, and other study tools phone is a fixed one paste tool since 2002 were..., limited monthly voice plan is a cost that is paid by a company that must be accounted.... Salary of chef in restaurant, this is fixed cost for MOST people may be non-fixed or. Not a fixed cost is the process of buying of assets like building property! By debnjerry [ 11/23/2014 8:47:24 PM ] get an Answer it directly impacts the number one tool! In reference to either personal or business finances circus act that involves monkeys unicycles. Or variable from the low 300’s to the mid 800’s as a fixed cost scores reflect how likely are. Is TRUE with variable expenses, which distorts CVP analysis addressed was the purpose of Taxes,. Reflect how likely individuals are to repay their debts every book collections Everfi quiz stock answers we. Same month to month surfboard costs $ 100 and is sold for that earns compound interest where you can get! = correct Answer you are overspending in an area 2 two types – fixed or variable.!