In Developing Forecasts of Expenses the Analyst Must Take into Consideration

question 37

Short Answer

In developing forecasts of expenses the analyst must take into consideration that expenses can be broken down into ________________________ or ______________________ components.

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Definitions:

Total Mechanization

The complete automation or use of machinery to perform all tasks in a process or system, eliminating the need for manual labor.

Automation

The total mechanization of a job.

Job Simplification

The process of breaking down jobs into their simplest components to improve efficiency and reduce complexity.

Highly Standardized

Pertains to products, processes, or systems that strictly adhere to established norms and specifications to ensure uniformity and consistency.