<<12345678910111213141516171819202122232425262728293031323334353637383940>> 1. In profit analysis, what are the important ingredients?Cost, volume, and priceFixed cost, variable cost, and selling priceFixed cost, volume, and selling priceVariable cost, volume, and selling priceQuestion 1 of 40 2. What are the two main components of cost in profit analysis?Fixed cost and selling costVariable cost and fixed costProduction cost and variable costFixed cost and marketing costQuestion 2 of 40 3. What happens to the fixed cost per unit when the volume of production or sales increases?It remains constantIt decreasesIt increasesIt varies randomlyQuestion 3 of 40 4. Higher volume of production generally leads to what effect on the cost of production?Increases the costDecreases the costMaintains the costDoubles the costQuestion 4 of 40 5. What is the basis for allocation in Activity-Based Costing (ABC)?Quantity of each cost-driving activityTotal fixed costsTotal variable costsTotal production costQuestion 5 of 40 6. In the context of ABC, what are cost pools?Groupings of costs incurred on a particular activityGroupings of costs incurred in productionGroupings of fixed costsGroupings of variable costsQuestion 6 of 40 7. What is a cost object in ABC?An item for which cost measurement is requiredA fixed cost in the production processA variable cost in the production processA product in the production processQuestion 7 of 40 8. What is a cost driver in ABC?Any factor that causes a change in the cost of an activityA driver who controls costsA machine that drives productionA supervisor who controls costsQuestion 8 of 40 9. In ethical decision-making, what is the foundation of many relations, including business relations and dealings?TrustResponsibilityFairnessRespectQuestion 9 of 40 10. Which step is involved in the Character-Based Decision-Making Model for ethical decision-making?Clarify GoalsDevelop OptionsMonitor and ModifyDetermine FactsQuestion 10 of 40 11. What does the Character-Based Decision-Making Model emphasize as one of its pillars?TrustworthinessProfitabilityMarket shareEconomic growthQuestion 11 of 40 12. In profit analysis, what is the formula for Break-Even Point (BEP)?Fixed Cost / (Selling Price - Variable Cost)Selling Price / (Fixed Cost - Variable Cost)Fixed Cost / (Selling Price + Variable Cost)Selling Price / (Fixed Cost + Variable Cost)Question 12 of 40 13. What is the profit calculation formula for the sale of 30,000 units at a sale price of Rs.10 per unit, the variable cost per unit is Rs.6 per unit and fixed cost is Rs.60000 in the given example?(30,000 X 10) X 40% - 60,000(30,000 X 10) X 60% - 60,000(30,000 X 10) X 20% - 60,000(30,000 X 10) X 50% - 60,000Question 13 of 40 14. In profit analysis, how does higher volume of production generally affect the cost of production?Increases the costDecreases the costMaintains the costDoubles the costQuestion 14 of 40 15. In the context of ABC, what is a cost pool?Groupings of costs incurred on a particular activityGroupings of costs incurred in productionGroupings of fixed costsGroupings of variable costsQuestion 15 of 40 16. In ethical decision-making, what is the foundation of many relations, including business relations and dealings?TrustResponsibilityFairnessRespectQuestion 16 of 40 17. Which step is involved in the Character-Based Decision-Making Model for ethical decision-making?Clarify GoalsDevelop OptionsMonitor and ModifyDetermine FactsQuestion 17 of 40 18. What does the Character-Based Decision-Making Model emphasize as one of its pillars?TrustworthinessProfitabilityMarket shareEconomic growthQuestion 18 of 40 19. In profit analysis, what is the formula for Break-Even Point (BEP)?Fixed Cost / (Selling Price - Variable Cost)Selling Price / (Fixed Cost - Variable Cost)Fixed Cost / (Selling Price + Variable Cost)Selling Price / (Fixed Cost + Variable Cost)Question 19 of 40 20. What is the profit calculation formula for the sale of 20,000 units @ Rs.10 per unit and P/V ratio is 40% in the given example?(20,000 X 10) X 40% - 60,000(20,000 X 10) X 60% - 60,000(20,000 X 10) X 20% - 60,000(20,000 X 10) X 50% - 60,000Question 20 of 40 21. In profit analysis, what happens to the fixed cost per unit when the volume of production or sales increases?It remains constantIt decreasesIt increasesIt varies randomlyQuestion 21 of 40 22. Higher volume of production generally leads to what effect on the cost of production?Increases the costDecreases the costMaintains the costDoubles the costQuestion 22 of 40 23. What is the basis for allocation in Activity-Based Costing (ABC)?Quantity of each cost-driving activityTotal fixed costsTotal variable costsTotal production costQuestion 23 of 40 24. In the context of ABC, what are cost pools?Groupings of costs incurred on a particular activityGroupings of costs incurred in productionGroupings of fixed costsGroupings of variable costsQuestion 24 of 40 25. What is a cost object in ABC?An item for which cost measurement is requiredA fixed cost in the production processA variable cost in the production processA product in the production processQuestion 25 of 40 26. What is a cost driver in ABC?Any factor that causes a change in the cost of an activityA driver who controls costsA machine that drives productionA supervisor who controls costsQuestion 26 of 40 27. In ethical decision-making, what is the foundation of many relations, including business relations and dealings?TrustResponsibilityFairnessRespectQuestion 27 of 40 28. Which step is involved in the Character-Based Decision-Making Model for ethical decision-making?Clarify GoalsDevelop OptionsMonitor and ModifyDetermine FactsQuestion 28 of 40 29. What does the Character-Based Decision-Making Model emphasize as one of its pillars?TrustworthinessProfitabilityMarket shareEconomic growthQuestion 29 of 40 30. In profit analysis, what is the formula for Break-Even Point (BEP)?Fixed Cost / (Selling Price - Variable Cost)Selling Price / (Fixed Cost - Variable Cost)Fixed Cost / (Selling Price + Variable Cost)Selling Price / (Fixed Cost + Variable Cost)Question 30 of 40 31. In profit analysis, which component of cost varies with the volume of production?Fixed costVariable costSelling priceDirect costQuestion 31 of 40 32. When volume of production increases, what is the typical effect on fixed cost per unit?DecreasesIncreasesRemains constantFluctuates randomlyQuestion 32 of 40 33. Which cost concept considers costs relevant to a specific decision?Relevant costIrrelevant costSunk costOpportunity costQuestion 33 of 40 34. In the context of profit analysis, what is the formula for Margin of Safety (MOS)?Sales - Break-Even PointBreak-Even Point - SalesBreak-Even Point / SalesSales / Break-Even PointQuestion 34 of 40 35. Which step involves developing options in the Character-Based Decision-Making Model?Clarify GoalsDevelop OptionsMonitor and ModifyDetermine FactsQuestion 35 of 40 36. In Activity-Based Costing (ABC), what does a cost driver measure?Quantity of resources consumedTotal fixed costsTotal variable costsTotal production costQuestion 36 of 40 37. What is a fundamental consideration in ethical decision-making for businesses?Maximizing profitSocial responsibilityMarket shareCompetitionQuestion 37 of 40 38. What term is used for the groupings of costs incurred on a particular activity in ABC?Cost poolCost objectCost centerCost driverQuestion 38 of 40 39. In profit analysis, what does the Break-Even Point (BEP) signify?Total cost equals total revenueProfit equals zeroRevenue exceeds total costProfit is maximizedQuestion 39 of 40 40. Which of the following is a pillar of the Character-Based Decision-Making Model?CompassionProfitabilityMarket shareGrowthQuestion 40 of 40 Loading...
