Variations in Process Output That Are Caused by Specific Events

question 41

Multiple Choice

Variations in process output that are caused by specific events or factors that are frequently temporary such as machine malfunction are:

• A) assignable variations.
• B) chance variations.
• C) out of control variations.
• D) random variations.
• E) All of these.

---

Definitions:

IFRS

International Financial Reporting Standards; a set of global accounting standards designed to ensure consistency and transparency in financial reporting.

Code-Law Countries

Nations that base their legal systems on a comprehensive, written set of laws, as opposed to case law or common law systems.

Common-Law Countries

Nations that follow a legal system inherited from English law, where the emphasis is on case law and judicial precedent rather than statutory laws.

Investment Companies

Firms that invest the funds of their clients into securities that match declared financial objectives.