An outlier is an observation that falls outside of the general pattern of the rest of the observations on a scatterplot
a. True
b. False
Indicate whether the statement is true or false
True
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The amount of depletion of a coal mine in a year may differ from the depletion expense in the same year because
a. depletion expense includes other costs in addition to depletion. b. depletion is based on the passage of time, whereas depletion expense is not. c. the mine is not in operation all year. d. some coal is unsold at the end of the year.
Which balance sheet accounts are most affected by operating activities?
a. Current assets and current liabilities b. Long-term assets c. Long-term liabilities d. Stockholders' equity.
The amount of cash a department store received from customers during a period equals the sales for the period, reduced by the _____ during this period or increased by the _____ during the period
a. decrease in accounts payable; increase in accounts payable b. increase in accounts payable; decrease in accounts payable c. decrease in accounts receivable; increase in accounts receivable d. increase in accounts receivable; decrease in accounts receivable e. none of the above
Which of the following is NOT a way in which process and job order cost systems are similar?
A) Both accumulate product costs--direct materials, direct labor, and factory overhead B) Both allocate product cost to units produced C) Both maintain perpetual inventories D) Both use job order cost cards