3.3 Costs and Revenues
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt Play1/8
There's no tags or description
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
9 Terms
Variable Costs
Those costs that vary with output.
Fixed costs
Those costs that, during the relevant period, do not vary with output or activity.
Total costs
The sum of the fixed costs and the variable costs.
Direct costs
A cost that is precisely traceable to a specific cost object, which may be a product, a service or a department.
Indirect costs/overheads
Costs that are used in multiple areas or activities of the business and, therefore, are not traceable to a specific cost object.
revenue
The income that a business generates.
Total Revenue Calculation
total revenue = price x quantity
Revenue stream
Income that a business generates for a particular activity.
Revenue Stream Examples
subscription
Advertisement
Transaction fees
franchise
Sponsorship
Note 
Flashcards (25)