age 1 of 101
HFMA CSAF EXAM Certified Specialist Accounting and
Finance
If a lessee is building up equity in equipment being leased, the
lease is:
A. A capital lease.
B. An operating lease.
C. A noncancelable lease.
D. A cancelatable monthly lease agreement. .......Answer.........A.
A capital lease.
Contribution margin is:
A. The difference between marginal revenue and the break-
even point.
,age 2 of 101
B. The difference between marginal revenue and marginal cost.
C. Where marginal revenue equals marginal cost.
D.the point where fixed cost produces a profit.
.......Answer.........B. The difference between marginal revenue
and marginal cost.
Activity-based costing is .......Answer.........A. Another term for the
proportional allocation method
**B. A method of determining product costs using cost drivers or
activity measures that cause indirect costs to be incurred
C. Less expensive to determine due to the necessary data
collection
D. Generally considered a less accurate costing method
,age 3 of 101
The break-even point is the level of sales volume of a product
producing the exact amount of _____________.
A. Contribution margin needed to cover fixed costs
B. Incremental cost needed to cover fixed costs
C. Contribution margin needed to cover incremental costs
D. Contribution margin needed to cover all costs
.......Answer.........A. Contribution margin needed to cover fixed
costs
Overhead is a common term for
A. Direct Costs
B. Variable Costs
C. Fixed Costs
, age 4 of 101
D. Indirect Costs .......Answer.........D. Indirect Costs
Arrived at by a group or association of organizations with
similar characteristics (for example, a published relative value
scale).
A. Predetermined
B. Negotiated
C. Customized standards .......Answer.........A. Predetermined
Based on the historical data of the specific institution for which
the budget is intended .......Answer.........A. Predetermined
**B. Negotiated
C. Customized standards
HFMA CSAF EXAM Certified Specialist Accounting and
Finance
If a lessee is building up equity in equipment being leased, the
lease is:
A. A capital lease.
B. An operating lease.
C. A noncancelable lease.
D. A cancelatable monthly lease agreement. .......Answer.........A.
A capital lease.
Contribution margin is:
A. The difference between marginal revenue and the break-
even point.
,age 2 of 101
B. The difference between marginal revenue and marginal cost.
C. Where marginal revenue equals marginal cost.
D.the point where fixed cost produces a profit.
.......Answer.........B. The difference between marginal revenue
and marginal cost.
Activity-based costing is .......Answer.........A. Another term for the
proportional allocation method
**B. A method of determining product costs using cost drivers or
activity measures that cause indirect costs to be incurred
C. Less expensive to determine due to the necessary data
collection
D. Generally considered a less accurate costing method
,age 3 of 101
The break-even point is the level of sales volume of a product
producing the exact amount of _____________.
A. Contribution margin needed to cover fixed costs
B. Incremental cost needed to cover fixed costs
C. Contribution margin needed to cover incremental costs
D. Contribution margin needed to cover all costs
.......Answer.........A. Contribution margin needed to cover fixed
costs
Overhead is a common term for
A. Direct Costs
B. Variable Costs
C. Fixed Costs
, age 4 of 101
D. Indirect Costs .......Answer.........D. Indirect Costs
Arrived at by a group or association of organizations with
similar characteristics (for example, a published relative value
scale).
A. Predetermined
B. Negotiated
C. Customized standards .......Answer.........A. Predetermined
Based on the historical data of the specific institution for which
the budget is intended .......Answer.........A. Predetermined
**B. Negotiated
C. Customized standards
