1.

The Board of Directors is ultimately responsible to the:

Group of answer choices

Internal Audit Department.

president.

external auditors.

stockholders.

2.

Total variable costs tend to vary directly with changes in volume.

Group of answer choices

True

False

3.

The break-even point is the point at which:

Group of answer choices

All of the other answers are correct.

variable costs equal sales.

fixed costs equal variable costs.

sales equals fixed costs plus variable costs.

4.

The variable cost is $16 per unit for a product that sells for $20. For 2,000 units, what is the contribution margin and contribution margin per unit?

Group of answer choices

$ 8,000; $ 8

$ 8,000; $ 4

$12,000; $16

$20,000; $20