At the break-even point:
A. Contribution margin would be equal to total fixed costs.
B. Sales would be equal to total costs.
C. Both sales would be equal to total costs and contribution margin would be equal to total fixed costs are correct.
D. Sales would be equal to fixed costs.
Answer: C
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Which of the following statements is TRUE?
A) Appropriations of retained earnings require journal entries, but restrictions on retained earnings are usually reported in notes to the financial statements. B) No journal entries are needed to appropriate or restrict retained earnings. C) Both appropriations and restrictions of retained earnings require journal entries. D) Restrictions on retained earnings must be journalized, but appropriations are usually reported in notes to the financial statements.
In an effort to maximize internal controls, the function of recording revenues and collecting cash is separated
A) to ensure that the employees are not overworked. B) to make it difficult to disburse cash payments from funds that were collected from cash receipts. C) to ensure that all revenues are recorded. D) to make it difficult for one person to embezzle cash collections.
Eric operates a store called Cartridge World, which sells office supplies. Eric enjoys operating Cartridge World, especially because he has ready access to management expertise and promotional support. He was able to open Cartridge World with limited capital. However, there are disadvantages Eric faces as well. For him, one of the biggest disadvantages is that he does not have complete control over his operation. Cartridge World is most likely a
A. franchise. B. wholesaler. C. direct seller. D. direct marketer. E. producer.
The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.
Answer the following statement true (T) or false (F)