Question 1

Phil asks you to calculate the break-even point for his firm.You respond that you will need total fixed costs,selling price,and variable costs per unit.

Accepted Answer

A) True 
 B)False

Question 2

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Accepted Answer

A)  the values for all assets and liabilities. 
B)  total fixed costs, selling price, and variable costs per unit. 
C)  forecasted sales volume, operating expenses, and asset values. 
D)  sales revenue and total liabilities 
E)  sales revenue and cost of goods sold 
A)  the values for all assets and liabilities. 
B)  total fixed costs, selling price, and variable costs per unit. 
C)  forecasted sales volume, operating expenses, and asset values. 
D)  sales revenue and total liabilities 
E)  sales revenue and cost of goods sold

Question 3

Odd pricing strategy represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and attempts to discourage competitors.

Accepted Answer

A) True 
 B)False

Question 4

A type of indirect costs,called _______ are costs which the organization commits itself to within an operating year,and which often are spent in advance or at the front end of a manufacturing/sales cycle.

Accepted Answer

A)  fixed costs 
B)  variable costs 
C)  direct costs 
D)  committed costs 
E)  indirect costs 
A)  fixed costs 
B)  variable costs 
C)  direct costs 
D)  committed costs 
E)  indirect costs

Question 5

The formula for the Break-even Point plus profit is total fixed costs.

Accepted Answer

A) True 
 B)False

Question 6

Costs incurred regardless of the number of units of a product that are produced or sold are called mixed costs.

Accepted Answer

A) True 
 B)False

Question 7

Variable costs are those costs which are directly tied to the manufacturing of a product,or the delivery of a service,depending on the type of business being assessed.

Accepted Answer

A) True 
 B)False

Question 8

The more the cost base is composed of fixed or indirect costs,the more easy it is for managers to use cost reduction strategies to protect the organization's profitability in response to decreases in demand for products and services.

Accepted Answer

A) True 
 B)False

Question 9

The more the cost base is composed of fixed or indirect costs,the more effortless it is for managers to use cost reduction strategies to protect the organization's profitability in response to decreases in demand for products and services.

Accepted Answer

A) True 
 B)False

Question 10

Producers often use tariffs as a primary basis for setting prices on the goods and services they offer the public.

Accepted Answer

A) True 
 B)False

Question 11

A skimming pricing strategy drives competitors out of business in order to achieve a monopoly position in the market.

Accepted Answer

A) True 
 B)False

Question 12

What are fixed costs and provide an example.

Accepted Answer

Fixed Costs (also referred to as indirec

Question 13

to cut costs wherever possible.

Accepted Answer

A) True 
 B)False

Question 14

A skimming pricing strategy:

Accepted Answer

A)  allows low income households the ability to purchase a particular good or service. 
B)  drives competitors out of business in order to achieve a monopoly position in the market. 
C)  creates a "common man" image to reach a larger market. 
D)  establishes a high price in order to earn the highest possible profit while there is little competition. 
E)  establishes a low price in order to ensure little competition. 
A)  allows low income households the ability to purchase a particular good or service. 
B)  drives competitors out of business in order to achieve a monopoly position in the market. 
C)  creates a "common man" image to reach a larger market. 
D)  establishes a high price in order to earn the highest possible profit while there is little competition. 
E)  establishes a low price in order to ensure little competition.

Question 15

At the break-even point target profit is achieved.

Accepted Answer

A) True 
 B)False

Question 16

The level of sales revenue or volume which is required in order for the organization to cover all of its costs is called the break-even point.

Accepted Answer

A) True 
 B)False

Question 17

Ongoing operating levels below BEP will eventually result in the organization becoming bankrupt.

Accepted Answer

A) True 
 B)False

Question 18

The more the cost base is composed of variable or direct costs,the more ______ managers have over the actual management of this cost base on a day-to-day basis.

Accepted Answer

A) True 
 B)False

Question 19

Barker Brothers Pens utilizes a strategy of low prices to attract customers and discourage competition.This represents a discounting strategy.

Accepted Answer

A) True 
 B)False

Question 20

The more the cost base is composed of variable or direct costs,the more ______ managers have over the actual management of this cost base on a day-to-day basis.

Accepted Answer

A)  influence 
B)  power 
C)  control 
D)  restraint 
E)  discipline 
A)  influence 
B)  power 
C)  control 
D)  restraint 
E)  discipline

Phil asks you to calculate the break-even point for his firm.You respond that you will need total fixed costs,selling price,and variable costs per unit.

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Odd pricing strategy represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and attempts to discourage competitors.

A type of indirect costs,called _______ are costs which the organization commits itself to within an operating year,and which often are spent in advance or at the front end of a manufacturing/sales cycle.

The formula for the Break-even Point plus profit is total fixed costs.

Costs incurred regardless of the number of units of a product that are produced or sold are called mixed costs.

Variable costs are those costs which are directly tied to the manufacturing of a product,or the delivery of a service,depending on the type of business being assessed.

The more the cost base is composed of fixed or indirect costs,the more easy it is for managers to use cost reduction strategies to protect the organization's profitability in response to decreases in demand for products and services.

The more the cost base is composed of fixed or indirect costs,the more effortless it is for managers to use cost reduction strategies to protect the organization's profitability in response to decreases in demand for products and services.

Producers often use tariffs as a primary basis for setting prices on the goods and services they offer the public.

A skimming pricing strategy drives competitors out of business in order to achieve a monopoly position in the market.

What are fixed costs and provide an example.

to cut costs wherever possible.

A skimming pricing strategy:

At the break-even point target profit is achieved.

The level of sales revenue or volume which is required in order for the organization to cover all of its costs is called the break-even point.

Ongoing operating levels below BEP will eventually result in the organization becoming bankrupt.

The more the cost base is composed of variable or direct costs,the more ______ managers have over the actual management of this cost base on a day-to-day basis.

Barker Brothers Pens utilizes a strategy of low prices to attract customers and discourage competition.This represents a discounting strategy.

The more the cost base is composed of variable or direct costs,the more ______ managers have over the actual management of this cost base on a day-to-day basis.

What Is Business

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Developing a Business Strategy

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters

Exam 12: Technology and Operations Management

Phil asks you to calculate the break-even point for his firm.You respond that you will need total fixed costs,selling price,and variable costs per unit.

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Odd pricing strategy represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and attempts to discourage competitors.

A type of indirect costs,called _______ are costs which the organization commits itself to within an operating year,and which often are spent in advance or at the front end of a manufacturing/sales cycle.

The formula for the Break-even Point plus profit is total fixed costs.

Costs incurred regardless of the number of units of a product that are produced or sold are called mixed costs.

Variable costs are those costs which are directly tied to the manufacturing of a product,or the delivery of a service,depending on the type of business being assessed.

The more the cost base is composed of fixed or indirect costs,the more easy it is for managers to use cost reduction strategies to protect the organization's profitability in response to decreases in demand for products and services.

The more the cost base is composed of fixed or indirect costs,the more effortless it is for managers to use cost reduction strategies to protect the organization's profitability in response to decreases in demand for products and services.

Producers often use tariffs as a primary basis for setting prices on the goods and services they offer the public.

A skimming pricing strategy drives competitors out of business in order to achieve a monopoly position in the market.

What are fixed costs and provide an example.

to cut costs wherever possible.

A skimming pricing strategy:

At the break-even point target profit is achieved.

The level of sales revenue or volume which is required in order for the organization to cover all of its costs is called the break-even point.

Ongoing operating levels below BEP will eventually result in the organization becoming bankrupt.

The more the cost base is composed of variable or direct costs,the more ______ managers have over the actual management of this cost base on a day-to-day basis.

Barker Brothers Pens utilizes a strategy of low prices to attract customers and discourage competition.This represents a discounting strategy.

The more the cost base is composed of variable or direct costs,the more ______ managers have over the actual management of this cost base on a day-to-day basis.

What Is Business

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Developing a Business Strategy

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters