I a Time Series Is a Collection of Data Recorded

question 34

Multiple Choice

i. A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or yearly.
Ii) Long-term forecasts are usually from one year to more than 10 years into the future.
Iii) A forecast is considered necessary in order to have the raw materials, production facilities, and staff available to meet estimated future demands.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements, but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) All statements are false

Recognize the implications of budgeting models and their application in management.

Understand the concept of cash and credit sales, and the timing of collections.

Learn the procedure for preparing a cash budget, including the estimation of cash receipts and disbursements.

Calculate variable and fixed manufacturing overhead costs.

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Definitions:

Ethics

Moral principles that govern a person's behavior or the conducting of an activity.

Bad News

Information that is unpleasant, disappointing, or upsetting to receive or deliver.

Stakeholders

Individuals or groups that have an interest or stake in the outcome of a project, decision, or organization.

Softens The Blow

A phrase used to describe actions or words that make a negative situation seem less severe.