The following balance sheet information is provided for Greene Company for 2014: What is the...
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The following balance sheet information is provided for Greene Company for 2014: What is the company's quick (acid-test) ratio? 0.7 1.4 1.3 3.8 Select the correct statement regarding fixed costs. Because they do not change, fixed costs should be ignored in decision making. The fixed cost per unit decreases when volume increases. The fixed cost per unit increases when volume Increases. The fixed cost per unit does not change when volume decreases. Select from the following the Incorrect statement regarding contribution margin Sales - fixed costs = contribution margin Net income + total fixed costs = contribution margin At the breakeven point (where the company has neither profit nor loss), total fixed costs = total contribution margin Total sales revenue times the contribution margin percentage = total contribution margin
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