Which of the Following Methods Requires the Most Professional Judgment

question 94

Multiple Choice

Which of the following methods requires the most professional judgment in classifying costs?

• A)Scattergraph
• B)Regression analysis
• C)Account analysis
• D)High-low method

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Definitions:

Revenues Journal

A record of sales and income transactions, typically used in accounting to track and manage revenue generation.

Cash Receipts Journal

An accounting journal used to record all cash inflows or money received by the business.

All-purpose Journal

A general ledger used in accounting to record financial transactions that do not fit specifically into other specialized journals.

Purchases Journal

A record where a business notes all purchases of goods intended for resale or use in production, particularly on credit.