21. What is the level of units or sales at which profit is zero? A. Contribution margin B. Break-even point C. Margin of safety D. Target profit level

22. A flexible budget is an estimate of what revenues and costs should have been, given the ( ) for the period. A. actual level of activity B. planned level of activity C. targeted level of activity D. static level of activity

23. What is not a perspective of Balanced Score Card (BSC)? A. Financial perspective B. Customer perspective C. Vision and strategy D. Learning and growth

24. Return on investment (ROI) is defined as ( ) divided by average operating assets A. operating liability B. investment C. net income D. net operating income