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PRICOS Online Quiz #1

Authored by Carnit Cordova

Business

University

Used 6+ times

PRICOS Online Quiz #1
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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Cost-Volume-Profit (CVP) Analysis is used to determine how changes in costs, volume, and prices affect a company's profits.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The contribution margin is the amount left over after deducting variable costs from sales revenue.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The break-even point is the level of sales where total revenue equals total variable costs.

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a CVP Analysis, the total contribution margin is calculated by multiplying the contribution margin per unit by the number of units sold.

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A company with a high contribution margin ratio is more profitable than a company with a low contribution margin ratio.

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The margin of safety is the excess of actual or projected sales over the break-even volume of sales.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

CVP Analysis assumes that the sales mix of a company's products remains constant.

TRUE

FALSE

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