Cost Accounting Is Necessitated by

question 54

Multiple Choice

Cost accounting is necessitated by

• A)the high degree of conversion found in certain businesses.
• B)external reporting requirements for manufacturing companies.
• C)management's need to be aware of all production activities.
• D)management's need for information to be used for planning and controlling activities.

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Definitions:

Poisson Distribution

A probability distribution that represents the likelihood of observing a certain number of events within a specified time or space interval.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events occur with a known constant rate and independently of the time since the last event.

Discrete Random Variable

A variable that takes on a countable number of distinct values, often used in probability theory and statistics.

Expected Value

The long-run average value of repetitions of the same experiment or process, representing the central tendency.