1. If Cash has been debited, it is likely that:

A$.$ a customer paid cash for services.

B$.$ a customer made a payment on account.

C$.$ the owner made an investment.

D$.$ All of these are possible.

2. One of the items to consider to be significant when testing the going concern assumption is$,\mathrm{????},$

A$.$ Can the business meet its customers' needs?

B$.$ Can the business pay its way in the future?

C$.$ Can the business match its competitors' market share?

D$.$ Can the capital invested sustain the company?

3. 

A company's flexible budget for $15,000$ units of production showed sales, $$75,000$; variable costs, $$37,500$; and fixed costs, $$19,000.$ The sales expected if the company produces and sells $19,000$ units is $($Do not round intermediate calculations$)$:

Multiple Choice

$$18,500.$

$$4,433.$

$$95,000.$

$$46,250.$

$$23,433.$

Answer rating: 100% (QA)

Answer To solve this problem we need to use the flexible ... View the full answer