The Following Questions Are Based on the Image Below

question 31

Multiple Choice

The following questions are based on the image below.

The Metropolitan Museum of Art/Art Resource,NY
Washington Crossing the Delaware,Emanuel Leutze,1851
-This painting commemorates a turning point in the Revolutionary War by emphasizing which of the following as a significant reason for the ultimate American victory?

• A) Overwhelming support of European allies
• B) The development of unity among nearly all American colonists
• C) Resilient and resourceful military and political leadership
• D) Monetary advantages over the British, who had to maintain long and expensive supply lines

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Definitions:

Variable Costs

These are expenses that vary directly with the level of production or sales volume; they rise as production increases and fall as production decreases.

Contribution Margin Ratio

The percentage of sales revenue that remains after deducting variable costs, used to cover fixed costs and generate profit.

Variable Cost

Costs that change in proportion to the level of goods or services produced by a business.

Contribution Margin

The gap between the income from sales and variable expenses, which serves to offset fixed expenses and produce earnings.