Accounting 234

ACCOUNTING 234 Core 1 Quiz 8 Questions with verified Answers 2024 1. A personal income tax client of your firm has decided to set up a small busi- ness selling semi-precious gemstones, beads, and jewelry-making supplies. The estimated sales for the first year of operations are $25,000. Therefore, the business does not have to collect and remit GST to the Canada Revenue Agency (CRA). What is the advantage to the client of registering for a GST account before the store's annual sales reach $30...

ACCOUNTING 234 Core 2 Assignment 1 Questions with verified Answers 2024 What Does CVP stand for and what is it used for? -- correct answer --Cost-Volume-Profit, evaluates profitability and helps guide decision making. - Must be broken down into variable and fixed components -Used for break-even, target profit, and profit impact with variable changes

ACCOUNTING 234 Core 2 Quiz 1 Answers Company XYZ sells three products: rocks, paper, and scissors. The rocks’ contribution margin (CM) per unit is highest and the scissors’ CM per unit is lowest. Which one of the following events will increase the company’s overall break-even point?