A well designed activity based costing system starts

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8) A well-designed activity-based costing system starts with __________.  A. analyzing the activities performed to manufacture a product B. computing the activity-based overhead rate C. assigning manufacturing overhead costs for each activity cost pool to products D. identifying the activity-cost pools 9) The cost principle is the basis for preparing financial statements because it is __________.  10) Which one of the following is a product cost?  11) If a company reports a net loss, it __________.  12) The primary purpose of the statement of cash flows is to __________.  A. prove that revenues exceed expenses if there is a net income B. provide information about the investing and financing activities during a period
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C. facilitate banking relationships D. provide information about the cash receipts and cash payments during a period 13) The major reporting standard for management accounts is __________.  14) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost  $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?  15) The price of a good that prevails in a world market is called the  16) A country's consumption possibilities frontier can be outside its production possibilities frontier if __________.  A. the citizens of the country have a greater desire to consume goods and services than do the citizens of other  countries B. the country’s technology is superior to the technologies of other countries C. the country imports more than it exports D. the country engages in trade
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  • Spring '10
  • Smith
  • Business, Forward contract, following statements, publicly held corporation, Z corporation, GDP values production

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