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MAC2601-S2-2024-ASSESSMENT 1 ALL QUESTIONS ARE COVERED 90% PASS A+
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MAC2601-S2-2024-ASSESSMENT 1 ALL QUESTIONS ARE COVERED 90% PASS
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MAC2601-S2-24-ASSESSMENT-1Assessment 1
Open course index
Started on Sunday, 18 August 2024, 2:24 PM
State Finished
Completed on Sunday, 18 August 2024, 3:38 PM
Time taken 1 hour 13 mins
Marks 36.00/40.00
Grade 90.00 out of 100.00
Question 1
Correct
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Question text
The concept of “break-even units” means ….
a.
The number of units needed to be sold to cover all the fixed costs.
b.
The number of units needed to be sold to cover both the fixed and variable costs.
c.
The number of units needed to be sold to cover most of the costs.
d.
The number of units needed to be sold to cover all the variable costs.
Question 2
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For internal reporting … costing is used; while for external reporting … costing is
used.
a.
Internal: absorption; External: variable
b.
Internal: variable or absorption; External: variable
, MAC2601-S2-24-ASSESSMENT-1
c.
Internal: variable or absorption; External: absorption
d.
Internal: variable; External: variable or absorption
Question 3
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Management’s control function involves ….
(I) monitoring.
(II) measuring and comparing planned outcomes with actual outcomes.
(III) taking appropriate action where there are significant variances.
a.
(II) and (III) only.
b.
(I) only.
c.
All the options.
d.
(I) and (II) only.
Question 4
Incorrect
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….. is/are the method(s) used for accumulating production costs.
(I) Budgeted costing
(II) Actual costing
(III) Standard costing
(IV) Process costing
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