The Two Different Types of Node on a Decision Tree

question 54

Multiple Choice

The two different types of node on a decision tree are:

• A)information and decision nodes.
• B)information and uncertainty nodes.
• C)uncertainty and decision nodes.
• D)go to meet and stay home nodes.

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Definitions:

Period Cost

Expenses incurred by a business that are not directly tied to the production process, such as marketing, administration, and sales costs, which are expensed in the period in which they occur.

Advertising Fees

Costs associated with promotional activities to market goods or services, including media buys, production of advertising materials, and related expenses.

Product Cost

The total cost associated with manufacturing a product, including direct materials, direct labor, and manufacturing overhead.

Period Cost

Expenses that are not directly tied to the production process and are expensed in the period they are incurred, such as selling and administrative expenses.