Multiple choice

Directions: Choose the correct option for the given question:

_______ is the second major element of cost.

  1. Material

  2. Labour

  3. Overhead

  4. Direct expense

  5. Indirect expense
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The three major elements of cost are material, labour, and expenses (overheads). Labour is universally recognized as the second element.

Keep practicing — related questions