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Question 1 of 25
4.0 Points
A lower price for the firm’s product will reduce the firm’s breakeven point.
A. True
B. False
uestion 2 of 25
4.0 Points
(point) Profit is generally adequate to finance significant growth.
A. True
B. False
Question 5 of 25
4.0 Points
The degree of combined leverage is the sum of the degree of operating leverage and the degree of financial leverage.
A. True
B. False
Question 6 of 25
4.0 Points
If fixed costs rise while other variables stay constant
A.the breakeven point rises.
B.degree of operating leverage increases.
C.total profit declines.
D.all of these
Question 7 of 25
4.0 Points
Operating leverage emphasizes the impact of using fixed assets in the business.
A. True
B. False
Question 8 of 25
4.0 Points
(point) In financial statements, the number of units shown in cost of goods sold as compared to the number of the units actually produced
A.is higher.
B.is lower.
C.is the same.
D.can be either higher or lower.
Question 9 of 25
4.0 Points
The contribution margin is equal to price per unit minus total costs per unit.
A. True
B. False
Question 10 of 25
4.0 Points
(point) Which of the following is most likely to increase the final number for notes payable in the pro forma balance sheet?
A.decrease in inventory.
B.increase in retained earnings.
C.decrease in accounts payable.
D.decrease in accounts receivable.
estion 11 of 25
4.0 Points
An increase in sales and profits generates the necessary cash required for economic growth.
A. True
B. False
Question 12 of 25
4.0 Points
The percent-of-sales forecast is likely to be most accurate when used with cyclical companies.
A. True
B. False
Question 13 of 25
4.0 Points
Pro forma financial stateme
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