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Multiple Choice Quiz
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1

Revenue can be defined as:
A)an expense that varies directly with the number of units a company produces.
B)an expense that remains constant and is not affected by the number of units a company produces.
C)the money a company receives during a given period.
D)the combination of variables used in performing a what-if analysis.
2

A variable cost can be defined as:
A)an expense that varies directly with the number of units a company produces.
B)an expense that remains constant and is not affected by the number of units a company produces.
C)the money a company receives during a given period.
D)the combination of variables used in performing a what-if analysis.
3

If you want to see how increasing the number of units produced in increments of five affects both revenue and total variable cost, you might use what?
A)A scenario
B)A one-variable data table
C)A two-variable data table
D)Break-even analysis
4

If you want to see how incremental changes in price and units produced affect the net income of the company you might use what?
A)A scenario
B)A one-variable data table
C)A two-variable data table
D)Break-even analysis
5

The contribution margin may be defined as what?
A)The amount remaining after all costs are deducted from the revenue
B)The amount remaining after all variable costs are deducted from the fixed costs
C)The amount remaining after all fixed costs are deducted from the revenue
D)The amount remaining after all variable costs are deducted from the revenue
6

The values read for computation by formulas in a data table are called:
A)input values.
B)result values.
C)changing values.
D)computational values.
7

In a one-variable data table, the input cell is placed where?
A)In the upper-left-hand cell of the data table
B)At the head of the row or column containing the input values
C)At the lower-right-hand cell of the data table
D)Anywhere in the worksheet outside of the data table
8

In a two-variable data table, the formula(s) is (are) placed where?
A)In the upper-left-hand cell of the data table
B)At the head of the row or column containing the input values
C)At the lower-right-hand cell of the data table
D)Anywhere in the worksheet outside of the data table
9

A scenario uses all of the following except:
A)changing cells.
B)a table area
C)formulas.
D)result cells.
10

Scenarios are what-if analysis tools that:
A)allow the users to view many outcomes simultaneously.
B)are synonymous with a three-variable data table.
C)allow the use of more than two changing cells.
D)are limited to one result cell.
11

One- and two-variable data tables along with scenarios can be considered to be what-if tools.
A)True
B)False
12

CVP is the acronym for Cost-Volume-Price analysis.
A)True
B)False
13

Variable costs increase with the number of products produced by a company.
A)True
B)False
14

Fixed costs do not change with changes in the number of products produced.
A)True
B)False
15

An income statement contains data about revenues and costs, but not profit.
A)True
B)False
16

A one-variable data table has only one input variable but can contain several formulas.
A)True
B)False
17

Two-variable data tables incorporate two input variables and also two formulas.
A)True
B)False
18

Scenarios allow more than one variable to be changed at a time and automatically generate a two-variable data table.
A)True
B)False
19

Scenario Summary can be generated as a summary report or a PivotTable report.
A)True
B)False
20

With one- and two-variable data tables, as well as scenarios, it is not necessary to use charts for data analysis.
A)True
B)False





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