As Part of the Scientific Method,scientists Form Testable Predictions That

question 94

Multiple Choice

As part of the scientific method,scientists form testable predictions that can be observed and measured.These are called

• A)theories.
• B)proofs.
• C)hypotheses.
• D)models.

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Definitions:

Standard Costs

The predetermined, estimated costs of manufacturing a single unit or a number of products during a specific period for budgetary and inventory valuation purposes.

Unit Costs

The cost incurred to produce, store, or purchase one unit of a product or service.

Standard Costing Systems

Accounting methods that use standard costs for direct materials, labor, and overhead to assess the efficiency of operations.

Cost Minimisation

A business strategy aimed at reducing expenses to improve profitability without compromising on the quality of the products or services offered.