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1. Which of the following is an advantage of corporations relative to
partnerships and sole proprietorships?
2. The group of users of accounting information charged with achieving
the goals of the business is its
3. Which of the following financial statements is cornered with the
company at a point in time?
4. An income statement
5. The most important information needed to determine if companies can
pay their current obligations is the
6. A liquidity ratio measures the
7. The convention of consistency refers to consistent use of accounting
principles
8. Horizontal analysis is also known as
9. Horizontal analysis is a technique for evaluating a series of financial
statement data over a period of time
10. Vertical analysis is a technique that expresses each item in a
financial statement
11. Process costing is used when
12. An important feature of a job order cost system is that each job
13. In a process cost system, product costs are summarized:
14. An activity that has a direct cause-effect relationship with the
resources consumed is a(n)
15. Activity-based costing
16. A cost which remains constant per unit at various levels of activity is
a
17. Fixed costs are $600,000 and the contribution margin per unit is
$150. What is the break-even point?
18. The break-even point is where