Income Is an Example of

question 61

Multiple Choice

Income is an example of

• A)categorical data
• B)either categorical or quantitative data
• C)dollar data
• D)quantitative data

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Definitions:

Kilos

A kilo or kilogram is a metric unit of mass equal to 1000 grams, used worldwide for measuring weight.

Fixed Manufacturing Overhead Rate

A constant charge used to allocate fixed overhead costs to products or services, regardless of production volume.

Standard Cost System

A cost accounting system that uses standard costs for inventory valuation and as a tool for cost control.

Budgeted Activity

Planned or expected levels of operational activity, which may include sales volume, production quantities, or labor hours, for budgeting purposes.