The relative frequency approach to probability depends on the law of ______________________________
Fill in the blank(s) with correct word
large numbers
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Which of the following correctly describes the term cost driver?
A) the inflation rate that causes costs to rise B) the average inventory costs incurred at any point of time C) the primary factor that causes a cost to be incurred D) the total material, labor, and overhead costs of a completed job
Under which of the following theories would the accounting equation be Total Assets - Total Liabilities = Owners’ Equities?
a. Residual equity theory b. Proprietary theory c. Entity theory d. Commander theory
When a new employee is on a trial or probationary status
a. The supervisor should wait until the last day of the probation to discuss performance b. The supervisor should talk with the employee about their performance on a regular basis c. The human resources department determines the employee's future status d. The employee should be responsible for their own performance
Which of the following requires a formal journal entry?
A) selection of a new CEO B) stock dividend distribution C) stock split D) date of record