Which one of the following statements about forecasting is FALSE?
A) Causal methods of forecasting use historical data on independent variables (promotional campaigns, competitors' actions, etc.) to predict demand.
B) Three general types of forecasting techniques are used for demand forecasting: time-series analysis, causal methods, and judgment methods.
C) Time series express the relationship between the factor to be forecast and related factors such as promotional campaigns, economic conditions, and competitor actions.
D) A time series is a list of repeated observations of a phenomenon, such as demand, arranged in the order in which they actually occurred.
C
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The primary external users of accounting information are investors and creditors
Indicate whether the statement is true or false
Barsness Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for November. Fixed Element per MonthVariable Element per Well ServicedActual Total for NovemberRevenue $4,400$190,100Employee salaries and wages$56,800 $1,100$103,400Servicing materials $700$29,800Other expenses$34,800 $35,300When the company prepared its planning budget at the beginning of November, it assumed that 39 wells would have been serviced. However, 43 wells were actually serviced during November.The amount shown for "Other expenses" in the planning budget for November would have been closest to:
A. $35,050 B. $34,800 C. $32,016 D. $35,300
A(n) ________ describes a noun or pronoun
A) noun B) verb C) adverb D) adjective
A major repair to an asset that extends the useful life of that asset is always charged directly to an appropriate repair expense account
Indicate whether the statement is true or false