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This episode covers costs (fixed, variable, direct indirect), the Effectiveness Model, TQM/CQI, and Assets/Liability.

The following questions were asked in the episode:

Which of the following is considered to be a fixed cost?

B. Rent

C. Food containers

D. All of the above

You hold a leadership title in a business. An employee was hired 1 week ago who will be working for you. As a leader, which of the following styles should you use when communicating to the employee?

A. Telling

B. Selling

C. Participating

D. Delegating

Which of the following is most associated with focusing on the organization instead of the individual, and is also more focused on team involvement and data collection?

A. TQM

B. CQI

C. None of the choices listed

D. Both TQM and CQI

Which of the following could be considered a current liability?

A. Inventory

B.Equipment 

C.Accounts receivable

D. Accounts payable