Accounting Mcqs – MCQs

1591 questions. Click to practice.

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1.Given that the breakeven revenue is $220,000 and each bundle generates $10,000 in revenue, how many bundles must be sold to reach the breakeven point?

2.Given that the contribution margin amounts to $3,000 and total sales revenue is $9,000, what is the total value of variable costs?

3.Given a margin of safety amounting to $35,000 and a planned revenue of $80,000, what is the margin of safety expressed as a percentage?

4.What is determined by dividing the contribution margin by the operating income?

5.What is the name of the graph that illustrates how changes in units sold impact operating income?

6.Given that the contribution margin for a bundle is $45,000 and the total revenue from the bundle is $1,500, what is the contribution margin percentage for the bundle?

7.Given a fixed cost of $65,000 and a contribution margin ratio of 57.5% for a product bundle, what is the breakeven sales revenue?

8.Given a contribution margin of $25,000 and total sales revenue of $60,000, what is the amount of the variable costs?

9.Given a contribution margin of $72,000 and an operating income of $12,000, what is the degree of operating leverage?

10.Given a breakeven revenue of $360,000 and a revenue of $12,000 generated per bundle, how many bundles must be sold to reach the breakeven point?

11.Given a margin of safety amounting to $25,000 and budgeted sales revenue of $45,000, what is the margin of safety expressed as a percentage?

12.Which formula correctly represents the calculation of the contribution margin?

13.Given a gross margin of $9,000 and a cost of goods sold amounting to $8,000, what is the total revenue?

14.What term is used to describe the collection of all possible occurrences that can take place in the near future or within a specified timeframe?

15.Given a budgeted revenue of $50,000 and a breakeven revenue of $35,000, what is the margin of safety?

16.Given a fixed cost of $20,000, a desired operating income of $10,000, and a contribution margin of $1,200 per unit, how many units must be sold to achieve the target income?

17.Given a desired net income of $9,600 and a tax rate of 40%, what is the required operating income before taxes?

18.If the gross profit amounts to $7,000 and total sales are $16,000, what is the cost of goods sold?

19.In accounting, what term describes the chance that the actual figure may differ from the anticipated figure?

20.Which term refers to the anticipated value of a result expressed in monetary units?