Which of the following entities can use cost-volume-profit (CVP) analysis? Multiple Choice Not-for-profit organizations, but not service firms. Not-for-profit organizations, service firms, and manufacturers. Service firms, but not organizations that are not-for-profit. Manufacturing firms, but not service firms.

Which of the following entities can use cost-volume-profit (CVP) analysis? Multiple Choice Not-for-profit organizations, but not service firms. Not-for-profit organizations, service firms, and manufacturers. Service firms, but not organizations that are not-for-profit. Manufacturing firms, but not service firms.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 10MC: Which of the following is not a type of responsibility center? A. concentrated cost center B....

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Which of the following is not a type of responsibility center? A. concentrated cost center B. investment center C. profit center D. cost center
Which of the following types of organizations can most benefit from value chain analysis? Multiple Choice Service firms. All types of organizations can benefit from value chain analysis. Not-for-profit organizations. Manufacturing firms.
Which of the following underlying assumptions form(s) the basis for cost-volume-profit analysis? All of the choices are assumptions that underlie cost-volume-profit analysis. In multiproduct organizations, the sales mix remains constant. Worker efficiency and productivity remain constant. Revenues and costs behave in a linear manner.
Which statement below best describes a profit center?a. The authority to make decisions affecting the major determinants of profit, including the power to choose its markets and sources of supply.b. The authority to make decisions affecting the major determinants of profit, including the power to choose its markets, sources of supply, and significant control over the amount of invested capital.c. The authority to make decisions over the most significant costs of operations, including the power to choose the sources of supply.d. The authority to provide specialized support to other units within the organization.e. The responsibility for combining the raw materials, direct labor, and other factors of production into a final product.
A segment of a business responsible for both revenues and expenses would be called: Multiple Choice a cost center. a profit center. residual income. an investment center.
Differential costs represent – Group of answer choices the costs which is shown in the balance sheet but not expensed in the income statement until the sale of the products. The differences in costs among different departments of an organization. the amount of increase or decrease in costs from a particular course of action when compared to its alternatives the difference between controllable costs and non-controllable costs.
Which of the following is not an application of cost-volume-profit analysis? Setting prices for products and services. Performing strategic “what-if” analyses. Deciding whether to cut a product line. Determining the short-term cost or profit implications of many decisions. Deciding whether to make or buy a given product or service.
Which of the following statements best describes a profit center?a. The responsibility for combining the raw materials, direct labor,and other factors of production into a final productb. The authority to make decisions affecting the majordeterminants of profit, including the power to choose its marketsand sources of supplyc. The authority to make decisions affecting the majordeterminants of profit, including the power to choose its markets,sources of supply, and significant control over the amount ofinvested capitald. The authority to make decisions over the most significant costsof operations, including the power to choose the sources of supplye. The authority to provide specialized support to other unitswithin the organization
Discuss the Cost- Volume- Profit assumptions and its importance to the business organization in profitplanning.
Which of the following is NOT an objective of determining product costs for manufacturing firms? A) To determine selling prices B) to reduce operating leverage C) to make decisions D) to do financial reporting
Types of decisions that managers make include all of the following except: a.choosing which products to sell b.designing performance evaluation systems c.setting tax rates d.hiring employees e.All of these are decisions that managers make
Why do most of the companies prepare for profit planning? And what are the key steps to make it helpful?