This Method of Estimating Future Costs Can Be Used When

question 46

Multiple Choice

This method of estimating future costs can be used when only one period of data is available.

• A) Scatter plot
• B) High-low method
• C) Analysis at the account level
• D) Regression analysis

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Definitions:

Contract

A legal agreement between two or more parties that creates mutual obligations enforceable by law.

Liable

Legally responsible or obligated to someone or something, often used in the context of legal judgments or debts.

Disclosed Principal

A principal whose identity is known to a third party. The third party is aware that the agent is making an agreement on behalf of the principal.

Third Party

An individual or group besides the two primarily involved in a transaction or legal situation, often providing additional services or involvement.