a) Indicate which of the following statements is most correct by placing the number in the marked square -> 1 2 3 Analysing outcomes with Cost-Volume-Profit analysis is objective because it is based on calculations are requires on subjective inputs Cost-Volume-Profit analysis can precisely be applied to external financial reporting Cost-Volume-Profit analysis provides a simple way to estimate the effects of changes in demand for goods or services on profit As Cost-Volume-Profit analysis takes account of both variable and fixed costs, it is always likely to mirror the cost-structure of the business 4 b) Indicate which of the following statements is most correct by placing the number in the marked square -> 1 2 3 Cost-Volume-Profit calculations are only useful for management or business employees Conceptually, Cost-Volume-Profit calculations can only be performed using fixed and linearly variable cost categories Cost-Volume-Profit calculations require the company to only produce one product Cost-Volume-Profit analysis estimates must be critiqued to ensure they stay within the relevant range 4