Which of the following alternatives is a characteristic of a company business structure?

Select one:

a. unlimited liability of owners

b. easy to setup

c. only has one owner

d. separate legal entity

Which of the following statements is correct?

Select one:

a. Budgets can be used for evaluating actual results.

b. Budgets are only done for cash receipts and payments.

c. Budgets should only be made twice every year.

d. When the actual receipt of cash is higher than the budgeted one the result is unfavourable.

Which of the following budgeted expenses has an unfavourable variance?

Select one:

a. Insurance $30,000, actual insurance $40,000.

b. Electricity $4,000, actual electricity $3,700.

c. Salary and wages $54,000, actual salary and wages $51,000.

d. Interest $500, actual interest $500.

If fixed costs are $300,000 and variable costs are 40% of the selling price, the break-even point in sales dollars is:

Select one:

a. $500,000

b. $750,000

c. $120,000

d. $180,000

The following data relates to Taxation division of David and Partners: Fees Direct variable costs Direct fixed costs Average invested capital Required rate of return $180 000 $ 70 000 S 30 000 $100 000 10% Based on above information, the ROI for taxation division is: Select one: a. 10% O b. 8%. O c. 18%. O d. 2%