Which branch of accounting is concerned with variance analysis?
A. Financial reporting
B. Management accounting
C. Treasury
D. Financial accounting
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Two statements relating to integrated and interlocking accounting systems are shown below. Is each statement true or false?
A. Statement 1 is true, Statement 2 is false
Both statements are true
C. Statement 1 is false, Statement 2 is true
D. Both statements are false
A publishing company pays an author a royalty of $3 per book sold. What type of cost does this royalty expense represent?
A. Fixed
B. Mixed or semi-variable
C. Variable
D. Stepped
Which one of the following statements describes a fixed cost?
A cost which is easily controlled
B. A cost with a total cost value that changes in proportion with the level of activity
C. A cost with a constant cost per unit at varying levels of activity
D. A cost that is constant in total regardless of the level of activity
A publishing company pays an author a fee of $5,000 on delivery of a completed manuscript plus a royalty of $1.50 per book sold. What type of cost does this expense represent?
A. Fixed
B. Stepped
C. Mixed or semi-variable
D. Variable