sample test ch 12 cost acct

sample test ch 12 cost acct - Sample test Chapter 12 Cost...

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Sample test Chapter 12 – Cost Accounting TRUE/FALSE.  Write 'T' if the statement is true and 'F' if the statement is false.  1 Sample test chapter 12 – Cost Accounting Page 1
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When  demand is  elastic, an  increase  in price  will lead  to an  increase  in profits. 
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1) 
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_______   
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Companie s that  produce  high  quality  products  do not  have to  pay  attention  to the  actions of  their  competito rs. 
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2) 
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Cost  bases that  include  fewer  costs also  have  lower  markups. 
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3) 
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When  demand is  strong,  firms  usually  increase  markups. 
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4) 
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One goal  of target  costing is  to design  costs out  of  products.  
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5) 
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_______   
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Life - cycle  budgeting  estimates  the costs  and  revenues  attributed  to a  product  from its  initial  R&D  through  productio n of a  prototype  product.  
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6) 
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_______    MULTIP LE  CHOICE .  Choose  the one  alternativ e that  best  completes  the  statement  or  answers  the  question.
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