Acc/561 Exam

1424 words 6 pages
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| Multiple Choice Question 49 | | | | Your answer is correct. | | |
Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? | Reduced legal liability for investors. | | Harder to transfer ownership. | | Lower taxes. | | Most common form of organization. | | | | | Multiple Choice Question 64 | |

| | Your answer is correct. | | |
The group of users of accounting information charged with achieving the goals of the business is its

| auditors. |

| managers. |

| investors. |

| creditors. | | Multiple Choice Question 110 | | | | Your answer is correct. | | |
Which of the following
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| | |
The break-even point is where

| total variable costs equal total fixed costs. |

| total sales equal total variable costs. |

| total sales equal total fixed costs. |

| contribution margin equals total fixed costs. | Multiple Choice Question 109 | |

| | Correct. | | |
Fixed costs are $600,000 and the contribution margin per unit is $150. What is the break-even point?

| $1,500,000 |

| $4,000,000 |

| 4,000 units |

| 1,500 units | | Multiple Choice Question 94 | | | | Correct. | | |
When a company assigns the costs of direct materials, direct labor, and both variable and fixed manufacturing overhead to products, that company is using | absorption costing. | | product costing. | | operations costing. | | variable costing. | | | | Multiple Choice Question 122 | |

| | Incorrect. | | |
If a division manager's compensation is based upon the division's net income, the manager may decide to meet the net income targets by increasing production when using

| variable costing, in order to decrease net income. |

| absorption costing, in order to decrease net income. |

| absorption costing, in order to increase net income. |
Correct answer C | variable costing, in order to increase net income. | Multiple Choice Question 50 | | | | Your answer is correct. | | |
An unrealistic budget is more likely to result

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