Which TWO of the following are true?
A. Management accounts are a legal requirement
B. Financial accounts are prepared for internal decision-making
C. Financial accounts reflect activities of the whole business
D. Management accounts are used for future planning
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There is a legal ratio required of nursery nurses to children. Which of the following examples fits the definition of a stepped cost in a nursery?
A. The telephone bill for the nursery
B. Nursery nurse payroll costs
C. Rent for the nursery
D. The food bill of the nursery
In which of the following situations would a face-to-face meeting be the best way of communicating?
A. To allow opportunities for questions
B. When communicating complex information
C. When information cannot be sent electronically
D. When the communication has to be confidential
The high low method can be used to identify the split between fixed and variable costs using the table below. What would be the total cost for 1,075 units in a month?
A. $7,050
B. $6,700
C. $6,665
D. $6,950
A business has annual sales of 216 units with each unit requiring one component A.The cost of holding one component A for a year is $6 and the cost per order is $8.What is the economic order quantity for component A?
A. 24
B. 576
C. 18
D. 17