True or False

1- A new partner is admitted either by purchasing an interest from one or more current partners or by investing cash or other assets in the partnership.

2- In cost-volume-profit analysis, the unit contribution margin is:

Multiple Choice

• Sales price per unit less unit fixed cost per unit.

• Sales price per unit less total variable cost per unit.

• Sales price per unit less cost of goods sold per unit.

• Sales price per unit less unit total cost per unit.

• The same as the contribution margin ratio.