The Continuous Method of Timing Work Elements

question 83

Multiple Choice

The continuous method of timing work elements

• A) is more accurate than the snap-back method.
• B) is best combined with the work sampling method.
• C) will always result in increasing recorded times for successive work elements.
• D) requires a greater sample size than the snap-back method.

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Definitions:

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues, often representing the additional benefit over the next best alternative.

Industry Output

The total production or supply of goods and services produced within a specified industry over a given period of time.

Economic Losses

Occur when a company's total costs exceed its total revenues, resulting in a negative profit.

Industry Output

The total production of goods and services by all firms in a specific industry over a given period.