Justin Purchased a Box of ʺAs-Isʺ Equipment at Auction

question 1

Multiple Choice

Justin purchased a box of ʺas-isʺ equipment at auction. Included is a computer. When he tries to start the computer for the first time, the computer prompts him to enter a power-on password. What should he do because he does not know the password?

• A) Salvage what parts he can to use on other systems.
• B) Remove the battery to clear all the CMOS settings.
• C) Because power-on passwords are limited to four characters, attempt to guess the password by systematically entering all combinations.
• D) Replace the CMOS chip with a new one that has not been programmed with a power-on password.

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Definitions:

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit.

Break-even Point

The level of production or sales volume at which total revenues equal total costs, resulting in no net profit or loss.

Variable Expense

Costs that vary in relation to a company's operations.

Contribution Margin Ratio

A financial performance metric that measures the additional profit generated for each dollar of sales after variable costs are subtracted.