MPI MN July 2020 CMP Questions

Both questions refer to Domain D - Financial Management

1.  You are developing a budget to net a 20% profit.  You are anticipating 1,000 people.  Your fixed costs are $50,000 and your variable costs are $75 per person.  What must your registration fee be?

a.  $90
b.  $125
c.  $150
d.  $175

2.  You've been asked to report on the financial status of your upcoming event at a specific point in time to clarify if more sponsors are needed.  Which of the following would you look at?

a.  balance sheet
b.  income and expense report
c.  accrual accounting report
d.  cash accounting report

Answers:

1.  c
2.  a