Which of the Following Statements Is NOT True of a Correlation

question 63

Multiple Choice

Which of the following statements is NOT true of a correlation?

• A)Correlations can range from -1.0 to +1.0.
• B)Negative correlations indicate relatively weak relationships.
• C)Correlations can indicate possible causal factors.
• D)Correlations can identify high-risk groups.
• E)Negative correlations indicate inverse relationships.

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Definitions:

Process Costing

A costing method used where similar goods or services are produced in mass quantities, and the cost of producing each unit is assumed to be the same.

Job Order Costing

A cost accounting system that assigns manufacturing costs to each individual product or batch, making it suitable for customized orders or distinct products.

Cost Object

Any item for which a separate measurement of costs is desired; can include products, services, projects, or activities.

Indirect Materials

Materials used in the production process that are not directly traceable to individual products, such as lubricants and cleaning supplies.