(I) a Frequency Distribution Is Grouping of Data into Classes

question 64

Multiple Choice

(i) A frequency distribution is grouping of data into classes showing the number of observations in each class.
(ii) In constructing a frequency distribution, you should try to have open-ended classes such as "Under
$100" and "$1,000 and over".
(iii) A cumulative frequency distribution is used when we want to determine how many observations lie above or below certain values.

• 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.

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Definitions:

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific products or activities based on their consumption of resources.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, improving costing accuracy.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing more accurate product cost information.

Activity-Based Costing

An accounting method that identifies and assigns costs to overhead activities and then assigns those costs to products.