The Height of a Building, Measured in Feet, Is an Example

question 63

Multiple Choice

The height of a building, measured in feet, is an example of

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

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Definitions:

Inventory Accounts

Inventory accounts are financial accounts used to track the quantities and costs of products a company holds for sale in the normal course of business.

Standard Cost

Predetermined or estimated costs used for cost control and decision making in manufacturing.

Actual Prices

The real prices at which goods and services are sold, differing from list or nominal prices.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost, based on the labor rate.