When an Area Code Changes in a Database, the Phone

question 107

Multiple Choice

When an area code changes in a database, the phone number for a given customer before the change will not match the customer's number after the change. This is an example of

• A) too fine data.
• B) too coarse data.
• C) missing values.
• D) incomplete or inaccurate data.
• E) inconsistent data.

Grasp the role of opportunity cost in economic decisions.

Explain the characteristics and benefits of a market economy.

Describe the implications of private ownership and free exchange.

Understand the economic rationale for specialization and division of labor.

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Definitions:

Materials Price Variance

The variance between the real expense of materials and their anticipated (or standard) cost.

Direct Labor-hours

The total hours worked by employees directly involved in the production process, used as a basis for allocating labor costs to products or job orders.

Variable Overhead Efficiency Variance

The difference between the expected (standard) and actual variable overhead costs based on the actual level of an activity.

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that varies directly with the volume of production, such as utilities for machinery.