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1) ____________ is a method of analysis used to evaluate individual financial
statement items or groups of items in terms of a specific base amount.
2) _________________ identify and describe transactions and events and provide
objective evidence and amounts for recording.
3) A ________ is an internal document (or file) that is used to accumulate information
to control cash disbursements.
4) What are the basic assumptions of CVP analysis with regard to variable cost, fixed
cost, and selling price per unit? (Assume a single product).
5) _____________________ is the process of analyzing alternative long-term
investments and deciding which assets to acquire or sell.
6) Describe the two alternate methods used to account for prepaid expenses.
7) A ________________________ is a continuously revised budget that adds future
months or quarters to replace months or quarters that have lapsed.
8) Define and contrast period costs and product costs. How are they reported in the
financial statements of a manufacturing company?
