Testing a prototype of a new product is an example of a:
A. Organization-sustaining activity.
B. Product-level activity.
C. Unit-level activity.
D. Batch-level activity.
Answer: B
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A sample chosen in such a way that every possible subset of same size has an equal chance of being selected is called a _____sample.
A. cluster B. systematic random C. simple random D. stratified random
The budgeted cost of products to be sold in a future period would be found in the
a. production budget. b. sales budget. c. purchases budget. d. pro forma income statement.
The income statement columns in the worksheet show that debits are equal to $55,800 and credits are $62,705. What does this information mean to the accountant?
A) Net income of $6,905 B) Net loss of $6,905 C) The accounts are out of balance, indicating an error has been made. D) The accounts have not been updated.
When Miller Brewing advertises that its Miller 64 brand of beer has fewer calories than Bud Light, Miller Brewing is using comparative advertising.
Answer the following statement true (T) or false (F)