A100 FINAL EXAM IU | QUESTIONS &
ANSWERS | SOLVED 100% CORRECT!!
1 of 78
Term
The usual starting point for a master budget is:
the budgeted income statement.
the production budget.
the sales forecast or sales budget.
the direct materials purchase budget.
Give this one a try later!
, it will reduce the fixed costs per the sales forecast or sales
unit. budget.
Variable costs are fixed per unit. They are owners of the company.
Don't know?
2 of 78
Term
Which of the following is true?
A) Total fixed costs vary exactly as the level of production varies.
B)Variable costs are fixed per unit.
C) The contribution margin per unit varies as the number of
units varies.
D) Fixed costs are fixed per unit.
Give this one a try later!
Assets - liabilities = stockholders' Variable costs are fixed per
equity unit.
Using cash to pay an
account payable. It is responsible for IFRS.
Don't know?
,3 of 78
Term
A company purchased supplies for cash, which will be consumed
during future months. Which of the following correctly describes the
impact of the supplies purchase on the financial statements?
A) Operating expenses will increase.
B) Operating income will decrease.
C) Total assets will decrease.
D)Total assets will remain unchanged.
Give this one a try later!
total cost per unit will decrease. it decreases retained earnings.
Using cash to pay an account Total assets will
payable. remain unchanged.
Don't know?
4 of 78
Term
Which of the following costs are always irrelevant in decision
making?
A) sunk costs
B) fixed costs
, C) avoidable costs
D) opportunity costs
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sunk costs Current ratio
Total assets do not change when
Earnings per share the cash is collected.
Don't know?
5 of 78
Term
During the month, Pinto Company earned $12,000 in revenue, but
only $10,000 of that had been received by the end of the month.
Pinto's only expense was advertising of $3,000, but the company will
pay for that next month. How much did Pinto report in net income
for the month?
A) $10,000
B) $9,000
C) $7,000
D) $12,000
Give this one a try later!
$121,250 $50,000
ANSWERS | SOLVED 100% CORRECT!!
1 of 78
Term
The usual starting point for a master budget is:
the budgeted income statement.
the production budget.
the sales forecast or sales budget.
the direct materials purchase budget.
Give this one a try later!
, it will reduce the fixed costs per the sales forecast or sales
unit. budget.
Variable costs are fixed per unit. They are owners of the company.
Don't know?
2 of 78
Term
Which of the following is true?
A) Total fixed costs vary exactly as the level of production varies.
B)Variable costs are fixed per unit.
C) The contribution margin per unit varies as the number of
units varies.
D) Fixed costs are fixed per unit.
Give this one a try later!
Assets - liabilities = stockholders' Variable costs are fixed per
equity unit.
Using cash to pay an
account payable. It is responsible for IFRS.
Don't know?
,3 of 78
Term
A company purchased supplies for cash, which will be consumed
during future months. Which of the following correctly describes the
impact of the supplies purchase on the financial statements?
A) Operating expenses will increase.
B) Operating income will decrease.
C) Total assets will decrease.
D)Total assets will remain unchanged.
Give this one a try later!
total cost per unit will decrease. it decreases retained earnings.
Using cash to pay an account Total assets will
payable. remain unchanged.
Don't know?
4 of 78
Term
Which of the following costs are always irrelevant in decision
making?
A) sunk costs
B) fixed costs
, C) avoidable costs
D) opportunity costs
Give this one a try later!
sunk costs Current ratio
Total assets do not change when
Earnings per share the cash is collected.
Don't know?
5 of 78
Term
During the month, Pinto Company earned $12,000 in revenue, but
only $10,000 of that had been received by the end of the month.
Pinto's only expense was advertising of $3,000, but the company will
pay for that next month. How much did Pinto report in net income
for the month?
A) $10,000
B) $9,000
C) $7,000
D) $12,000
Give this one a try later!
$121,250 $50,000
