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Chapters 1-4 The Accounting Cycle
Chapters 5-8 Current Assets
Chapters 9-11 Long-Term Assets
Chapters 12-14 Liabilities/Equities
Chapters 15-16 Using Information
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20 Managerial/Cost
Chapters 21-24 Budgeting/Decisions

Chapter 18 - Goals Achievement

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Chapter 18 – Goals Achievement

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Goals Achievement
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Question 1 of 10

1. Question
A cost which varies in direct proportion to a change in an activity base, but is fixed per unit, is known as a:
- fixed cost
- variable cost
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Question 2 of 10

2. Question
Costs like supervisory salary, office space, and so forth, which increase in chunks are called:
- mixed costs
- step costs
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Question 3 of 10

3. Question
A statistical technique that relies on mathematical formulas to separate a cost between its fixed and variable components is called:
- the method of least squares
- scattergraph
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Question 4 of 10

4. Question
The method of separating costs between fixed and variable components which relies on only two data points for analysis is called the:
- high-low method
- mixed-cost method
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Question 5 of 10

5. Question
The break-even point in units can be determined by dividing fixed costs by the:
- unit contribution margin
- contribution margin ratio
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Question 6 of 10

6. Question
On a break-even graph with dollars on the vertical axis and sales volume on the horizontal axis, fixed costs would appear as a straight line parallel to the:
- vertical axis
- horizontal axis
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Question 7 of 10

7. Question
The contribution margin can be defined as the amount that an additional unit of sales contributes towards covering fixed costs and generating income.
- true
- false
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Question 8 of 10

8. Question
In considering the impact of operating changes on CVP analysis, any change to any component in the CVP model will require a complete revision of all elements included in the original CVP analysis.
- true
- false
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Question 9 of 10

9. Question
With a multi-product firm the break-even units refer to the sum of:
- the unit sales for each product
- a combination of the individual products in the same proportion as the predicted sales mix
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Question 10 of 10

10. Question
A limiting assumption of cost-volume-profit analysis is that costs can be classified as fixed or variable.
- true
- false
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Illustrative Entries

Examples of journal entries for numerous sample transactions

Account Types

Typical financial statement accounts with debit/credit rules and disclosure conventions

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Includes financial and managerial terms

Time Value of Money

Future and present value tables

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Chapters 1-4
Chapters 5-8
Chapters 9-11
Chapters 12-14
Chapters 15-16
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20
Chapters 21-24
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