A(n) Is Employed When a Continuous Distribution

question 64

Short Answer

A(n) is employed when a continuous distribution
is used to approximate a discrete distribution.

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Definitions:

Non-Cash Charges

Expenses reported on the income statement that do not require an actual cash outflow, such as depreciation and amortization.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life.

Cash Disbursements

The outflow of cash for expenses, such as payments to creditors, operational costs, and investment activities.

Production Budget

An estimate of the number of units that must be produced in a given period to meet the sales and inventory needs, forming part of the master budget of a business.