Which Situation Identifies When to Use Pie Charts And/or Bar

question 51

Multiple Choice

Which situation identifies when to use pie charts and/or bar charts?

• A)You want to describe a single set of data.
• B)Your data is nominal.
• C)You want to show the number or the percentage of individuals in each category.
• D)All of these choices are true.

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Definitions:

Quantity Variance

Quantity variance refers to the difference between the expected and actual quantity of materials or inputs used in the production process, impacting cost.

Standards

Predetermined benchmarks or norms used for measuring performance and setting expectations in various contexts, including production, quality, and accounting.

Budgets

Financial plans that forecast future income, expenditure, and resource allocation, guiding organizational decision-making.

Overhead Volume Variance

A measure used in cost accounting to analyze the difference between the budgeted and actual volume of activity, influencing the fixed manufacturing overhead.