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Accounting 102: Intro to Managerial Accounting Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. If you have three choices and with each choice these costs are different, what type of costs are they?

Question 2 2. What kind of business uses a traditional income statement?

Question 3 3. Shazam Electronics is a major retailer specializing in a large variety of computer chips. All of the chips have to be stored at a specific temperature, which is a significant expense to Shazam's monthly electric bill. Which of the following categories does this expense refer to?

Question 4 4. If your costs are $15,000 for producing product A, and your costs are $32,500 for producing products A and B, $17,500 would be which of the following costs?

Question 5 5. Portal Palace is a door manufacturer that is considering moving into a new regional market. Which of the following would be information on a balanced scorecard?

Question 6 6. On which section of the balance sheet is inventory reported?

Question 7 7. Which of these residual incomes is best for a business?

Question 8 8. Which budget lets you figure out how much to charge to make a profit?

Question 9 9. What is the point where total costs are equal to total revenue?

Question 10 10. How are fixed costs related to production levels?

Question 11 11. Which of the following is a standard cost?

Question 12 12. A company sells 5000 units at $25 each. If the variable costs are $35,000, what is the contribution margin ratio?

Question 13 13. Tony is considering adding a new product line to his business. What analysis would be crucial in driving his decision to carry new products?

Question 14 14. Define cost.

Question 15 15. What type of cost is the base cost that is paid when renting machines?

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Accounting 102: Intro to Managerial Accounting Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Accounting 102: Intro to Managerial Accounting  /  Business Courses
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