COST DEFINITION QUIZ
Cost Definition Quiz
Test your knowledge on cost definitions and pricing strategies with our engaging quiz! Perfect for professionals in finance, accounting, or anyone wanting to brush up on their understanding of various cost terms.
- 16 challenging multiple-choice questions
- Assess your understanding of REP-COST, STD-COST, and more
- Ideal for students and industry professionals alike
REP-COST stands for?
Landed Cost
Representative Cost
Replacement Cost
Raw Cost
List Stands for?
List Price
Landed Average
Landed Cost
Standard Cost
STD-Cost stands for?
Replacement Cost
List Price
Standard Cost
The estimated cost we would expect to pay if we were to order an item today from its primary vendor?
List Price (LIST)
Landed Average (AVG-LND)
PO COGS
Replacement Cost (REP-Cost)
What Price is displayed on the cost view of order entry?
Standard Cost (STD-COST)
Landed Average (AVG-LND)
List Price (LIST)
PO COGS
What is an arbitrary price to use as a fall back starting point for customers if no other pricing exists?
PO COGS
Average Landed (AVG-LND)
LIST
Replacement Cost (REP-COST)
Which price is displayed in the COGS view of order entry?
Replacement Cost (REP-COST)
Standard Cost (STD-COST)
Landed Average (AVG-LND)
PO COGS
Which shows the most recent purchase cost of of an item received from any vendor including the cost, duty charges, freight charges and miscellaneous additional charges?
Replacement Cost (REP-COST)
Landed Average (AVG-LND)
Landed Cost
PO COGS
This cost is maintained in Product Price sheet maintenance both to preserve a history and to factor in a price increase for a future dated order.
Landed Cost
List Price (LIST)
Landed Average (AVG-LND)
Replacement Cost (REP-COST)
AVG-LND stands for?
Standard Cost
LIST
Landed Average
Landed Cost
Which is the purchase order cost of a direct order?
Replacement Cost (REP-COST)
List
PO COGS
Landed Average (AVG-LND)
Which cost has a GP of 60 based on Replacement Cost (REP-COST)
Landed Average (AVG-LND)
Standard Cost (STD-COST)
List
Landed Cost
This cost is the replacement cost PLUS 5% to help account for duty charges, freight charges, miscellaneous additional charges and the expense associated with ordering, receiving, and putting an item in its storage area?
Replacement Cost (REP-COST)
Standard Cost (STD-COST)
Landed Average (AVG-LND)
PO COGS
Standard cost will reflect overrides in place as a result of vendor rebate programs?
True
False
COGS view on sales orders displays overrides as a result of vendor rebate programs
True
False
Which cost is calculated as the total cost required to get the product into the warehouse including product vendor cost, duty charges, freight charges, and miscellaneous additional costs. Recalculated when goods are received and is an average of the total quantity on hand in the warehouse at the moment of order entry?
Standard Cost (STD-COST)
Landed Average (AVG-LND)
Landed Cost
List
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