Instruction 3-14
Given Below Are the Rating and Performance Scores

question 38

Short Answer

Instruction 3-14
Given below are the rating and performance scores of 15 laptop computers.
$$\begin{array} { | l | l | l | l | l | l | l | l | l | l | l | l | l | l | l | } \hline \begin{array} { l } \text { Performanc } \\\text { e Score }\end{array} & 115 & 191 & 153 & 194 & 236 & 184 & 184 & 216 & 185 & 183 & 189 & 202 & 192 & 141 \\\hline \begin{array} { l } \text { Overall } \\\text { Rating }\end{array} & 74 & 78 & 79 & 80 & 84 & 76 & 77 & 92 & 83 & 78 & 77 & 78 & 78 & 73 \\\hline\end{array}$$
-Referring to Instruction 3-14,how will you classify the linear relationship between the performance scores and the rating?

Recognize the significance of the Capital account balance in the post-closing trial balance.

Identify the proper sequencing of closing entries in the accounting cycle.

Understand the role of the Income Summary account in the closing process.

Develop the ability to prepare financial statements, specifically post-closing trial balances, from given account balances.

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Definitions:

True Variable Cost

Costs that vary directly and proportionally with the level of production or activity within a business.

Fixed Cost

Expenses that do not change in total despite fluctuations in production or sales volume.

Mixed Cost

A cost consisting of both fixed and variable components and which is thus partially affected by changes in the level of activity.

Charitable Contribution

Monetary or in-kind donations given to charitable organizations, often eligible for tax deductions.