Which statements about cost-volume-profit analysis are correct? (select any 2 answers) * It only applies where there is a constant sales mix. It only applies where there is a changing sales mix Profits are calculated on an absorption costing basis. Profits are calculated on a marginal costing basis Which of the following are advantages of trading as a limited liability company? * O Operating as a limited liability company makes raising finance easier because additional shares can be issued to raise additional cash. Operating as a limited liability company is more risky than operating as a sole trader O because the shareholders of a business are liable for all the debts of the business whereas the sole trader is only liable for the debts up to the amount he has invested All of the above ONone of the above A particular cost is classified as 'semi-variable'. What effect will a 20% reduction in activity have on the unit cost? * O decrease by 20% O increase by less than 20% O increase by 20% O decrease by less than 20% Which statements about absorption costing are correct? * ) It leads to lower inventory valuations than marginal costing O It is used by management for make or buy decisions. O It apportions overheads between production and service departments. () It enables a company to know its break-even level of production