Lisa Is Making an Outline of Her Notes

question 63

Multiple Choice

Lisa is making an outline of her notes.She also has been rewriting both her lecture notes and her reading notes and making flash cards.What kind of test is Lisa probably preparing for?

• A)An objective test filled with multiple choice questions. Objective tests are more definition based and therefore do not emphasize these study methods as much.
• B)A subjective test such as an essay exam. Studies show that all these preparation methods are best for subjective tests.
• C)A True/False test
• D)A Fill-in-the blank test.

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Definitions:

Variable Costs

Costs that change in proportion to the level of production or activity within a business, such as materials and labor costs.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales activities, such as rent, salaries, and insurance.

Selling Price

is the amount of money for which a product or service is sold to customers.

Breakeven Analysis

It's a financial calculation to determine when a project or business will be able to cover all its costs and begin to make a profit.