Sharon Allen Is an Attorney Who Is Planning to Run

question 9

Multiple Choice

Sharon Allen is an attorney who is planning to run for a judgeship. She is planning her election strategy. She knows her competition is going to be fierce and is working with various individuals to make her first run a success. A screening committee will decide if Mrs. Allen is to be recom mended, and if so, she will be placed  on the bench by the governor and she will later go before the  voters for approval or disapproval, based on her  performance in office. ​  This method of selection is called:

• A) merit.
• B) partisan.
• C) non-partisan.
• D) qualified.
• E) citizen review.

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Definitions:

High-Low Method

A technique used in cost accounting to estimate variable and fixed costs based on the highest and lowest levels of activity.

Break-Even Point

The point at which total costs equal total revenues, indicating that a business is neither making a profit nor incurring a loss.

Contribution Margin Ratio

The contribution margin ratio is a financial metric indicating the proportion of sales revenue that exceeds variable costs and is available to cover fixed costs and generate profit.

Fixed Costs

Outlays for rent, salaries, and insurance that are unaffected by variations in the volume of production or sales.