______ and the Ability to Analyze Large Data Sets Have

question 64

Multiple Choice

______ and the ability to analyze large data sets have disrupted every industry and the way every organization does,or should do,business.

• A) Productivity
• B) Efficiency
• C) Revenue
• D) Technology

---

Definitions:

Equivalent Units

A metric used in cost accounting to express the amount of work done by manufacturers who have partially completed units on hand at the end of an accounting period.

Work in Process-Assembly Department

Inventory account that tracks the cost of partially completed goods that are still in the production process in the assembly department.

Equivalent Unit

A concept used in cost accounting to represent a portion of work done on a product, quantified in terms of fully completed units.

First-In, First-Out

An accounting method where the first items added to inventory are the first ones to be sold or removed, particularly relevant for cost calculation.