____________________ Uses Predictions in a Different Way

question 24

Multiple Choice

____________________ uses predictions in a different way.It uses a series of existing values to predict what other values will be.

• A) Sequences,
• B) Classification
• C) Clustering
• D) Forecasting

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Definitions:

Contribution Format

A presentation format for the income statement where costs are separated into variable and fixed categories, highlighting the contribution margin.

Absorption Costing

An accounting method where all manufacturing costs, both fixed and variable, are attributed to the production of products.

Variable Costing

A costing method in which variable manufacturing costs are included in product costs, while fixed manufacturing costs are treated as period costs.

Absorption Costing

An accounting method that assigns all manufacturing costs, both variable and fixed, to products, thereby impacting the inventory valuation on the balance sheet.