1. Cost of goods sold is located on which financial statement?

a. Income statement

b. Balance sheet

c. Statement of cash flows

d. All of the above

2. Which of the following is an assumption of break-even analysis?

a. Fixed expenses remain constant for all levels of sales volume.

b. Variable expenses change in direct proportion to changes in sales volume.

c. Changes in sales volume have no effect on unit sales price.

d. All of the above

3. Rapid prototyping is a methodology for:

a. Specifying requirements at the outset and for controlling very tightly any changes to them

b. Specifying requirements at the outset and for facilitating later changes to them with minimum customer in put

c. Triggering early warning of unauthorized changes to the original prototype to enable project management to take remedial actions

d. Working closely with customers by creating and updating prototypes that respond to customer input respond to customer input