Which of the Following Systems Is Least Efficient When Encoding

question 7

Multiple Choice

Which of the following systems is least efficient when encoding numeric values?

• A) Two's complement notation
• B) Excess notation
• C) ASCII
• D) Floating-point notation

Interpret the results of standard costing reports and use this information for managerial decision-making.

Recognize the limitations and challenges of implementing a standard costing system.

Understand the concepts of standard costing, including standard quantities, rates, and cost variance analysis.

Calculate and interpret variances in direct materials, direct labor, and manufacturing overhead.

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Definitions:

Cash Discount

A reduction in the amount owed by a customer if payment is made within a specified period.

Prompt Payment

Timely payment for goods or services, often within a specified period to avoid penalties or to qualify for discounts.

Credit Sale

A transaction where the payment for goods or services is deferred, allowing the buyer to pay at a later date.

Firm Deposits

Deposits made by a firm that are typically fixed for a certain term or period, which might earn interest.