Final Quiz

Final Quiz

Professional Development

6 Qs

quiz-placeholder

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Final Quiz

Final Quiz

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Quiz

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Professional Development

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Created by

Nicole Chuchmach

Used 1+ times

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Sales revenue is $250,000, fixed costs are $90,000, profit is $50,000, and sales price per unit is $25.00. Variable cost per unit is:

$11

$15

$20

$25

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The breakeven point is when sales and costs equal one another

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

CVP stands for Cost, Volume, Production

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

CVP can be used to help hospitality managers determine the level of sales required to cover their fixed and variable costs

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a CVP analysis concerning two or more departments, one needs to know the sales revenue mix, or ratio of sales revenue, for each department.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A long-term budget generally covers a day, month, or quarter

True

False