The ________ is the sum of the absolute value of forecasting errors divided by the number of periods in which a forecast was made
Fill in the blank with correct word.
Answer: MAD or mean absolute deviation
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The accounting rate of return method is desirable because of its simplicity and because it takes the time value of money into consideration
Indicate whether the statement is true or false
Studies show that legal action against fraudsters is typically taken:
a. Less than 25 percent of the time. b. Less than 50 percent of the time. c. More than 75 percent of the time. d. At least 50 percent of the time.
Spencer Company had overapplied factory overhead of $5,00 . last year. Which of the following statements is not true?
a. A higher level of production may have been achieved than budgeted for. b. The Work in Process account was overcharged for the costs of factory overhead incurred during the period. c. The actual factory overhead expenses may have been less than budgeted for the operating level achieved. d. Assuming the amount is not material enough to distort net income, Cost of Goods Sold should be increased by this amount.
A personal injury client fell on a french fry while in a popular restaurant. The fact that this client colors her hair is likely:
A) a material fact. B) an immaterial fact. C) a moot question. D) a material opinion.