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Home Page Social Science Economics Finance Accounting ACCT CH11 - Flashcards

ACCT CH11 – Flashcards

Isabel Padilla
8 July 2022
13 test answers

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question
Cost remain constant on a per-unit level as the level of activity changes are called
answer
variable costs
question
Which of the following describes the behavior of the variable cost per unit?
answer
Remains constant with changes in production
question
Costs that vary in total in direct proportion to changes in total activity level are called
answer
variable costs
question
Which of the following is an example of a cost that varies in total as the number of units changes
answer
Direct materials costs
question
As production increases, what would you expect to happen to fixed costs per unit?
answer
Decreases
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question
Which of the following statements is true regarding fixed and variable costs
answer
Fixed costs are fixed in total, and variable costs are fixed per unit
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question
Which of the following describes the behavior of the fixed cost per unit?
answer
Decreases with increasing production
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question
Knowing how costs behave is useful to management for all the following reasons EXCEPT for
answer
predicting customer demand
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question
As production increases, what should happen to the variable costs per unit?
answer
stay the same
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question
In cost-volume-profit analysis, all costs are classified into following two categories:
answer
variable costs and fixed costs
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question
The contribution margin ratio is
answer
the same as the profit- volume ratio
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question
Which ratio indicates the percentage of each sales dollar that is available to cover fixed costs and to provide a profit
answer
Contribution margin ratio
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question
Which of the following conditions would cause the break-even point to decrease
answer
unit variable cost increases
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.