Question 12 Variable costs are represented graphically as: Not yet answered Marked out of 1.00 P Flag question Select one: o a. starting at a given point and increasing as a straight line as activity increases. O b. a horizontal line staying the same irrespective of the level of activity O c. the intersection of total costs and total revenue lines. O d. starting at zero and increasing as a straight line as activity increases. Question 13 Variable costs are best defined as: Not yet answered Marked out of 1.00 P Flag question Select one: O a. varying over time. 0. b. varying directly in proportion to the level of activity c. varying directly in proportion to the number of employees. O d. varying from period to period. Question 14 A cost unit can be: Not yet answered Marked out of 1.00 Select one O a, all of the choices. P Flag b. a product question C. a job. d. a department stion 15 A limitation of the statement of financial position in portraying the financial position of an entity is: yet vered Select one: ked out of O a. there is no adjustment to values for inflation. Flag O b. items which cannot be measured in money are not included. o stion c. All of the choices are limitations. O d. the historical cost approach means that assets are not shown at their estimated market values