Which of the following statements is true? OA. When a large proportion of income is spent on a product or service, the more elastic the supply will be. OB Percentage change in price Elasticity of supply Percentage change in quantity supplied OC. Products or services in which inputs are readily available have a more elastic supply OD. None of the above is true.

Q: 24. If sales quantities are expected to increase, the underlying assumptions need to be stated and…

A: This statement is True.

Q: Which of the following is determined by subtracting all variable costs from the total selling price?…

A: Income statement is a financial statement that shows profitability, total revenue and total…

Q: What is the Breakeven formula when a profit is included: Group of answer choices c. Fixed Costs –…

A: Break-even point is the point at which there is no loss or no profit. It is because the sales…

Q: Margin of safety is computed as Select one: O a. Contribution margin - Fixed costs O b. Breakeven…

A: Margin Of Safety is the difference between Break Even Sales and Actual Sales

Q: ered productively inefficient?

A: A choice is said to be productively inefficient when it is possible to produce higher units of…

Q: If the ordering cost triples in an EOQ model, while the remaining values stay constant, how will the…

A: Economic Order Quantity is a model which aims to minimize the total inventory cost including the…

Q: Which of the following best describes an "opportunity cost"?     Expected future costs that differ…

A: Introduction: Opportunity cost: Cost for the opportunity lost called opportunity cost.

Q: Which of the following statements is correct: A. total fixed cost remain constant while variable…

A: Fixed Costs: Total Fixed cost remains constant at all the level of activities. Fixed cost per unit…

Q: Historical cost numbers are usually harder than market value numbers select one :   True, or ,…

A: Historical cost: It is the cost of acquisition or say it is initial cost when customer acquire the…

Q: when total contribution margin equals total fixed cost this indicates operating income true false

A: First we understand contribution margin Contribution margin means Variable cost   deduct from Sales…

Q: The three most common cost behavior classifications are a. variable costs, product costs, and sunk…

A: Cost volume profit analysis includes various techniques that help in the decision-making of the…

Q: Within the relevant range: a.        both total variable costs and total fixed costs will remain…

A: The costs incurred into the production are classified as fixed and variable costs. The variable…

Q: market value

A: Market value refers to the estimated worth of asset, which is based on the willingness of the buyer…

Q: 3. What are differential Revenues? A B C Any Revenue that increases when costs go down. D.…

A: Revenues and Expenses are important part of income statement. Under this, net income is calculated…

Q: . Which of the following is the best definition of a variable cost? A. A variable cost is one which…

A: Variable costs are the costs that vary on the basis of the level of output. They are determined per…

Q: In incremental analysis, the only costs to be considered are O relevant costs. sunk costs. O…

A: The incremental analysis uses those items that are relevant in aiding business decisions. These…

Q: 5. Offer curves tell us a) The demand and supply of both goods at different relative prices b) The…

A: The correct answer is for the above mentioned question is given in the following steps for your…

Q: Which format of the Income Statement is appropriate for financial reporting? O Variable costing O…

A: The appropriate format for the Income Statement for financial reporting is typically the Absorption…

Q: When using CVP Analysis, Net Profit (positive NI) would occur when Fixed Costs (FC) exceed total…

A: Net income as per CVP analysis -  sales - variable cost = contribution  contribution - fixed cost =…