Which of the following is responsibility center? A. Expense center B. Profit center C. Investment center D. All of the above

Which of the following is responsibility center?
A. Expense center
B. Profit center
C. Investment center
D. All of the above
by

1 Answer

Answer :

D. All of the above
by

Related questions

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Which of the following does the term Corporate Social Responsibility relate to? A. Environmental practice B. Ethical conduct C. Human rights and employee relations D. Community investment E. All of the above F. None of the above

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The area of focus on responsibility center is A. Quantum of sales B. Quantum of production C. Optimum utilization of resources D. All of the above

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Sales for desired profit is measured as A. (Fixed cost + profit)/ (P/V Ratio) B. (Fixed cost + profit) * (P/V Ratio) C. (Fixed cost - profit)/ (P/V Ratio) D. None of the above

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Which of the following statements are true? A. P/V Ratio can never be used to measure break-even point B. Higher the P/V ratio less will be the profit and vice versa C. Concept of P/V ratio is also used to determine profit at a given volume of sales D. All of the above

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Profit-Volume ratio is also known as A. Contribution ratio B. Contribution/Sales ratio C. Marginal Income percentage D. All of the above

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Which of the following statements are true? A. Contribution doesn’t include fixed cost whereas profit includes fixed cost. B. Contribution is not based on the concept of marginal cost. C. Contribution above breakeven point becomes profit. D. All of the above

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Using equation method, Break-even point is calculated as A. Sales = Variable expenses + Fixed expenses + Profit B. Sales = Variable expenses + Fixed expenses - Profit C. Sales = Variable expenses - Fixed expenses + Profit D. None of the above

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Last Answer : A. Sales = Variable expenses + Fixed expenses + Profit

Which of the following are characteristics of B.E.P? A. There is no loss and no profit to the firm. B. Total revenue is equal to total cost. C. Contribution is equal to fixed cost. D. All of the above.

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Last Answer : D. All of the above.

Under absorption costing, managerial decisions are based on A. Profit B. Contribution C. Profit volume ratio D. None of the above

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Last Answer : A. Profit

In context of net operating profit, which of the following statements are true? A. If all costs are variable, the amount of profit obtained in marginal costing and absorption costing will be same. B. If the volume of sales and output is equal in a period, profit will be same in absorption costing and marginal costing. C. Both a and b D. None of the above

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Last Answer : C. Both a and b

When contribution is positive but equal to fixed cost, A. There is loss equal to fixed costs B. There is loss more than fixed costs C. There will be loss less than fixed costs D. There will be neither profit not loss

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Last Answer : D. There will be neither profit not loss

Which of the following statements related to Contribution Analysis are ture? A. If contribution is zero, there is loss equal to fixed costs B. If contribution is negative, loss is less than fixed costs C. If contribution is positive and more than fixed cost there will be profit. D. All of the above

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Last Answer : A. If contribution is zero, there is loss equal to fixed costs

While computation of profit in marginal costing A. Total marginal cost is deducted from total sales revenues B. Total marginal cost is added to total sales revenues C. Fixed cost is added to contribution D. None of the above

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Last Answer : A. Total marginal cost is deducted from total sales revenues

Sales margin variance due to sales quantities is measured as A. Standard profit - Revised standard profit B. Revised standard profit - Budgeted profit C. Standard profit + Revised standard profit D. Revised standard profit + Budgeted profit

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Last Answer : B. Revised standard profit - Budgeted profit

Gross profit ratio is calculated by A. (Gross Profit/Gross sales)*100 B. (Gross Profit/Net sales)*100 C. (Net Profit/Gross sales)*100 D. None of the above

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Last Answer : B. (Gross Profit/Net sales)*100