________ Is a Ranking Scale in Which Numbers Are Assigned

question 78

Multiple Choice

________ is a ranking scale in which numbers are assigned to objects to indicate the relative extent to which some characteristic is possessed.Thus it is possible to determine whether an object has more or less of a characteristic than some other object.

• A) Ordinal scale
• B) Nominal scale
• C) Interval scale
• D) Ratio scale

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Definitions:

Actual Costs

The real costs incurred by a business during a specific period, as opposed to budgeted or forecasted costs.

Standard Costs

Predetermined or estimated costs of manufacturing, used for budgeting and assessing performance.

Management Tool

A management tool encompasses various strategies, techniques, or software used by managers to improve decision-making, efficiency, and effectiveness within an organization.

Ledger

A group of accounts for a business.