Chapter_3_Quiz

Chapter_3_Quiz - Description A set of 10 M/C questions...

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Description A set of 10 M/C questions pertaining to Chapter 3 topics. Maximum time allowed: 60 min. This assessment is worth 20 points. Note: Correct answers appear in Blue . Incorrect answers and skipped questions appear in Red after 'Your response'. 1. Given the following data: If sales decrease by 500 units, by what % would fixed expenses have to be reduced by to maintain current net income? (2 points) Your response: e. Some other percentage ____________. 0 points awarded. The correct answer is: a. 50.0%. b. 33.3%. c. 25.0%. d. 16.7%. e. Some other percentage ____________. 2. In a decision analysis situation, which one of the following costs is not likely to contain a variable cost component? (CMA adapted, 6/96) (2 points) Your response: c. Depreciation (You answered correctly!) 2 points awarded. The correct answer is:
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a. Labor b. Overhead c. Depreciation d. Selling e. Material 3. Operating leverage refers to the extent to which an organization's cost structure is made up of:
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Chapter_3_Quiz - Description A set of 10 M/C questions...

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