Some products or services have what is known as ______________ in economics, where demand does not change much in response to increases in prices.

• price inelasticity
• price elasticity
• price character
• commodity price

The denominator in the breakeven formula - average sales price minus average variable cost - is known as the _________________.

• current ratio
• unit contribution margin
• return on investment
• accounts payable turnover ratio

Revenues - total variable costs - total fixed costs = _______________.

• market value
• selling price
• profit or loss
• efficiency

Utilities are an example of ___________ costs.

• mixed
• fixed
• variable
• All of the above.

Sales commission is an example of a fixed cost.

• True
• False

The cost-volume-profit analysis is a ________________ tool, something used by those internal to an organization for budgeting, planning, and decision-making purposes.

• revenue
• managerial accounting
• liquidity
• traditional financial accounting

What is another term for the cost-volume-profit analysis?

• ratio analysis
• liquidity analysis
• trend analysis
• breakeven analysis