A small publishing house sold 25,000 copies of 'All about Nazila' in paperback at $3 per book. Fixed costs were $18,000 and variable costs were $45,000. What is the break-even point in units? a. 5,000 b. 10,000 C. 15,000 d. 3,000 A company expects to begin the coming year with 5,000 units of a specific product in finished goods inventory. It expects to sell 6,000 units and end the year with 7,000 units in FG inventory. Each unit of production requires 5 kgs of raw material. The company expects to have 50,000 kg of raw material on hand at the beginning of the coming year and wishes to end the year with 70,000 kg in inventory. How many kilograms of Material must the company purchase during the year? a. 70,000 kg b. 40,000 kg C. 60,000 kg d. 120,000 kg Which of the following areas have a major difference in accounting treatment by sole traders and partnerships and accounting treatment by companies? 1. Accounting for GST II. Accounting for equity III. Distributions to owners IV. Accumulation of profits V. Accounting for inventory a. II, III and IV b. III, IV and v C. I, II and III d. I, IV and V Which of the following statements is correct? a. Special legal requirements must be met when forming a partnership. b. The owner of a sole proprietorship is not legally liable for its debts. C. A shareholder's liability to contribute to the debts of an insolvent company is limited. d. A partnership is a separate legal entity