See the answer. Fixed costs are not included in the EOU. Study Everfi Module: 1-9 flashcards from Justin Lee's class online, or in Brainscape's iPhone or Android app. C. Depreciation is a common category of fixed expenses. a. Freight-out b. 10th - 12th grade . Played 0 times. Everfi Higher Education Final Quiz Answers – Module 5 . Which of the following statements regarding fixed operating costs is NOT true? 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. 0% average accuracy. d. Direct materials. a. loans c. school clothes b. school supplies d. all of the above EverFi Module 1 – Savings – Final Quiz Answers Flashcard Example #75820. However, an unlimited data plan is unnecessary. • The interest rates on federal loans and private loans are similar. Which of the following loans will typically offer the lowest interest rate? Print; Share; Edit; Delete; Host a game. Each surfboard costs $100 and is sold for $150. comsumer math. At January 1, 2013, Deer Corp. has beginning inventory of 2,000 surfboards. 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. How much is. 12 terms. :D A budget where the amount you spend is equal or less than the amount you earn. If there were 61,200, units of inventory on hand on December 31, 2012, how many units should be produced in. gtennison. B)Cost behavior outside of the relevant range is not linear, which distorts CVP analysis. Practice. Live Game Live. 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 Direct materials cost. Solo Practice. A.) Definition of Fixed Expense. 84. Play. Join The Discussion. 1. a. School Park University; Course Title AC 201 & 202; Type. January, 2012 in order for the company to meet its goals? • The interest rates on federal loans and private loans are similar. Search. Fixed expenses are expenses which remain static, not fluctuating over time. For example, you may need a cell phone for work or health reasons. Everfi Venture Lesson 3 DRAFT. Course Hero is not sponsored or endorsed by any college or university. Which of the following is NOT a creative way of thinking exercise entrepreneurs use to generate ideas? Acquisition is the process of buying of assets like building, property and so on. Comment * Comments ( 1) Divya Nagamani : 8 months ago . We thoroughly check each answer to a question to provide you with the most correct answers. Depreciation On Factory Equipment Property Taxes On Factory Building Property Insurance On Factory Building Payroll Taxes On Factory Employees . Marketing report 2,000 . Print; Share; Edit; Delete; Report an issue; Host a game. Question. 9. Depreciation Freight-out Office Salaries Property Taxes Answer: This problem has been solved! a. Freight-out b. a. Freight-out b. Compounding 1 time a yearB.) Remove the guilt and shame sometimes associated with a purchase and 3. B. A … Everfi Future Smart DRAFT. See the answer. Property taxes. Hence there is no guidance on how to record the purchase of property and equipment as a fixed asset or as an expense. 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. C) You can only get federal student loans if you demonstrate financial need. The words within a relevant or reasonable range of activity are normally added to the definition because at an extremely high volume or … Variable expenses are likely to be affected in proportion to the activities of the business. This quiz is incomplete! b. 52% average accuracy. A. Which of the following is an example of a fixed expense? answer choices . History, Social Studies, Other. Learn faster with spaced repetition. Sales commissions expense. Of course, remember that some expenses that qualify as fixed for most people may be non-fixed, or variable, for you. Which of the following would NOT be considered a fixed expense? Computers. Pastebin.com is the number one paste tool since 2002. Depreciation C. Lease Charge D. Direct Materials . Pastebin is a website where you can store text online for a set period of time. Even though with rising interest rates they may not be so low forever. Mauricio has a fixed amount to spend on unicycles and monkeys. ... What is a fixed expense. A fixed expense is an expense that doesn't change, regardless of the activity level. Let us know about it through the REPORT button at the bottom of the page. 2. NORTH PLC EVERFI MODULE 7 "INSURANCE" DRAFT. This preview shows page 15 - 18 out of 64 pages. Which of the following statements about federal student loans is TRUE? Salary of chef in restaurant, this is fixed cost or variable cost. • The interest rate on your loan will be fixed over time. Some expenses can contain discretionary, variable, and fixed categories. 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 statements about credit scores is TRUE? Additional credit sales of $2 million (cost price $1.5 million) are made. Expert Answer C)It directly impacts the number of units of product a customer buys. 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. Compounding daily* Which of the following accounts will give you the LEAST access to your money? Clothing purchases and movie tickets vary and groceries don't always cost the same every time you go shopping. January, 2013 in order for the company to meet its goals? C. Depreciation Costs. D) You do not accumulate interest on federal loans. For most companies, rent expense is fixed. 10. Finish Editing. Consolidated depreciation expense will be less, not more, than the sum of depreciation expense of the separate companies being combined. Which compounding frequency will earn you the MOST money? Compounding monthlyD.) Solo Practice. Deer’s policy is to maintain an ending inventory equal to 25% of the, next quarter’s sales. Which of the following is a fixed cost? These costs, such as depreciation expense, property tax expense and insurance expense, cannot be changed during short periods of time and are only Property Taxes B. 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. 10. Ans: C, SO: 3, Bloom: AP, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Resource Management, AICPA FN: Measurement, AICPA PC. n_momoka44. This quiz is incomplete! It is not more or less the costs. This is a detailed article on Variable Expense. Practice. School Park ... 18 out of 67 pages. Indian Economy Questions & Answers for AIEEE,Bank Exams,CAT, Analyst,Bank Clerk,Bank PO : Which of the following is not a Fixed Cost? a year ago. A fixed expense is an expense that doesn't change from month to month. 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. 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. 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. 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. a. Freight-out b. B) The interest rates on federal loans and private loans are similar. a. 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. Rent is a Fixed, Variable, intermittent, or discretionary expense? c. Each person has three credit scores. See the answer. Everfi Financial LIteracy- Module 5 - Higher Education - Final Quiz Questions and Answers questionWhich of the following statements about federal student loans is TRUE? Homework. Fixed expenses divided by the contribution margin per unit is the break-even point in UNITS (not the break-even point in dollars). Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget. B. It stays the same. A. Question. The term fixed expenses can be used in reference to either personal or business finances. Played 400 times. This preview shows page 15 - 18 out of 67 pages. 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. Answer: Option A . {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. The total cost b. 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. 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. Save. Course Hero is not sponsored or endorsed by any college or university. Fixed expense: Eating out is a fixed, variable, discretionary, or intermit ant: discrectionary: What does doing a budget do and help you do? This preview shows page 15 - 18 out of 67 pages. Fixed costs appear on your income statement and balance sheet, but they tend to stay the same month to month. * O monthly gym membership car payment O rent O vacation/recreation/fun expenses See answer vgamez55 is waiting … Edited by debnjerry [11/23/2014 8:47:24 PM] Get an answer. d. All of the above. A budget where the amount you save is less than the amount you spend. 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. A) The interest rate on your loan will be fixed over time. Which of the following statements are TRUE about credit scores? A. The price per unicycle is $120 and per monkey is $90. 3. Selected Answer: increase ROA and CR but not ROE Which of the following is a fixed expense for Maria's sandwich food truck? 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