Answer the following statements true (T) or false (F)
1. Revenue center responsibility reports show all costs incurred by the department and are useful when management needs to know the full cost of operating the department.
2. A profit center performance report includes both revenues and expenses.
3. Both the sales volume variance and the flexible budget variance help revenue center managers understand why they have exceeded or fallen short of budgeted revenue.
1. FALSE
2. TRUE
3. TRUE
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Morris ordered 1,000 sq. ft. of green carpet from RS Company. In error, RS Company shipped 1,000 sq. ft. of gold carpet. In this case, the risk of loss remains with the seller until the seller remedies the defect or until Morris accepts the gold carpet
a. True b. False Indicate whether the statement is true or false
The decision maker can control states of nature
Indicate whether the statement is true or false
The forecasting techniques that assume past sales patterns will continue into the future are all variations of
A. regression analysis. B. random factor analysis. C. seasonal analysis. D. time series analysis. E. past sales forecasting surveys.
The testing set in data partitioning is the:
a. first subset of data, which usually contains 70% of the records b. second subset of data, which usually contains 30% or less of the records c. initial dataset from which subsets are created d. first subset of data, which usually contains 30% of the records