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what are the answers for these multiple choice? 7.Financial and management accounting have different perspectives. Which of the following is true: 8.Based on the Standards
what are the answers for these multiple choice?
7.Financial and management accounting have different perspectives. Which of the following is true: 8.Based on the Standards of Ethical Conduct for Management Accountants developed by the Institute of Management Accountants, when may management accountants disclose confidential information acquired in the course of their work? A. never B. where there is no legal barrier C. only when authorized by management D. only when authorized by management, unless legally obligated to do so. 9.Which of the following statements are TRUE about management accounting? Management accounting: i. focuses on the present and future ii. is required by regulatory bodies such as the SEC iii. focuses on the organization as a whole, rather than on the organization's segments iv. focuses on individual units, sections and departments A. i only B. ii, and iii only C. i, and vi only D. ii, and vi only 10. The income statement for Jeeves Ltd for 2015 is shown below: Sales (100 000 units) Variable cost Contribution margin Fixed costs Net Income What is the contribution margin ratio? A. 10% B. 30% C. 40% D. 60% 11. What is the difference between total sales in dollars and total variable expenses called? A.Net operating income B. Net profit C. The gross margin D. The contribution margin 12. How is the margin of safety computed? A. Break-even/total sales B. Total sales - Break-even sales C. (Total sales-breakeven)/break-even sales D. (Total sales- breakeven)/Total sales 13. If total fixed cost is $8000 and break-even point is 4000 units, the contribution margin per unit will be: A. $0.5 B. $2 C. $20 D. \$50Step by Step Solution
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