Question :1 Choose the correct answer

1. Costs that do not differ between alternatives a. Irrelevant costs b. Sunk Costs c. Cost-plus pricing d. Target costing

2. Pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met. a. Target costing b. Cost-plus pricing c. Irrelevant costs. d. Sunk Cost

3. The trial balance of Clooney Company had accounts with the following normal balances: Cash $5,000, Revenue $85,000, Salaries Payable $4,000, Salaries Expense $40,000, Rent Expense $10,000, Clooney, Capital $42,000; Clooney, Drawing $15,000; Equipment $61,000. In preparing a trial balance, the total in the debit column is:

a. $131,000. b. $216,000. c. $116,000. d. $91,000.

4. Cost-volume-profit analysis is the study of the effects of a. changes in costs and volume on a company's profit. b. cost, volume, and profit on the cash budget. c. cost, volume, and profit on various ratios. d. changes in costs and volume on a company's profitability ratios.

5. Is simply a cost that is relevant to the decision being made? a. A Relevant cost b. Cost-plus pricing c. Irrelevant costs d. Sunk Cost

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