The contribution margin ratio always increases when the
a. variable costs as a percentage of net sales increase.
b. variable costs as a percentage of net sales decrease.
c. break-even point increases.
d. break-even point decreases.
B
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Commissions and referral fees are allowed to audit firms as long as the audit client is informed of the fees
a. True b. False Indicate whether the statement is true or false
A periodic review system is ______.
A. also known as a periodic inventory system B. also known as a variable order interval system C. one where the entire inventory is ordered once and not replenished D. suitable for selling high-volume products
Filtration Products, Inc., files a suit against Emmett, its former accountant, alleging constructive fraud. Emmett may be held liable
A. if Filtration cannot prove actual fraud. B. if Emmett was grossly negligent in the performance of his duties. C. only if Emmett acted with fraudulent intent. D. only if Emmett impersonated someone else who could be liable for fraud.
Which of the following statements is not true regarding individual investors?
A) They commonly invest a portion of the money earned from their jobs. B) They invest in stocks to earn a reasonable return on their investments. C) They expect their money to grow by the time they wish to use it to make purchases. D) The percentage of individual Americans who own stocks has increased since the financial crisis of 2008-2009.