University Of Arizona ATMO 005 QUIZ 3 1)Monthly rent on an administrative building would be classified as a variable cost  mixed cost  fixed cost   Monthly rent on an administrative building would be classified as a(n) period cost overhead cost direct material cost both overhead and period cost  none of the above   Retained earnings is a type of a(n) asset

University Of Arizona

ATMO 005

QUIZ 3

1)Monthly rent on an administrative building would be classified as a

1. 1. variable cost
   2.  mixed cost
   3.  fixed cost

2. Monthly rent on an administrative building would be classified as a(n)
   1. period cost
   2. overhead cost
   3. direct material cost
   4. both overhead and period cost
   5.  none of the above

3. Retained earnings is a type of a(n)
   1. asset.B. revenue.C. liability.D. expense.E. equity.

4. For an individual, which of the following would be considered a liability?
   1. Cash balance in bankB. FurnitureC. Computer equipmentD. Outstanding loan balanceE. None of the above

5. The cost of an employee’s pay that is classifiedas a direct labor cost would likely have which of the following job titles
   1. PresidentB. Production line workerC. Production line managerD. Sales managerE. All of the above