A binary mixed-integer programming problem in which the binary variables represent whether an activity, such as a production run, is undertaken or not is known as the _____
a. capital budgeting problem
b. share of choice problem
c. fixed-cost problem
d. covering problem
C
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Lithgow and Harris, CPAs are performing the audit of WildFlower Grocery Stores. Lithgow and Harris relates annual revenue by sales per square feet and sales per customer. What type of analysis is Lithgow and Harris most likely performing?
a. Ratio analysis. b. Critical analysis. c. Reasonableness tests. d. Non-statistical analysis.
Failure to record depreciation expense at the end of an accounting period results in
a. understated income. b. understated assets. c. overstated expenses. d. overstated assets. e. All of these choices are correct.
To get high schoolers excited about a new kind of sugar-free Red Bull, the company handed out free cans in the parking lot of high school football games. What kind of promotion was Red Bull doing?
A. contest B. polybagging C. sweepstake D. sampling E. free premium
Mott Company's sales mix is 3 units of A, 2 units of B, and 1 unit of C. Selling prices for each product are $20, $30, and $40, respectively. Variable costs per unit are $12, $18, and $24, respectively. Fixed costs are $320,000. What is the break-even point in composite units?
A. 5,000 composite units. B. 2,666 composite units. C. 1,111 composite units. D. 1,600 composite units. E. 4,000 composite units.