If the Null Hypothesis Is Not Rejected at the 5

question 62

Multiple Choice

If the null hypothesis is not rejected at the 5% level of significance, it _____ rejected at the 1% level.

• A) will also not be
• B) will always be
• C) will sometimes be
• D) may be rejected or not

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Definitions:

Quantity Standard

A predetermined measure of the quantity of inputs expected to be used in the production of goods or services, used for budgeting and performance evaluation.

Standard Cost System

An accounting system that uses predetermined costs for products and services to help managers control costs by comparing them with actual costs.

Raw Materials

The basic materials and components required to start the production process.

Standard Cost Card

A detailed listing of the standard amounts of inputs and their costs that are required to produce a unit of a specific product.