Table 109 -Use the Information in Table 10

question 87

Multiple Choice

Table 10.9
$$\begin{array} { | c | c | c | } \hline \text { Quarter } & \begin{array} { c } \text { Forecasted } \\\text { Demand } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Actual } \\\text { Demand } \\\text { (Units) }\end{array} \\\hline 1 & 85 & 95 \\2 & 55 & 55 \\3 & 70 & 45 \\4 & 60 & 75 \\\hline\end{array}$$
-Use the information in Table 10.9.What is the mean absolute deviation of forecast errors for the data?

• A) 0 units
• B) greater than 0, but less than or equal to 25 units
• C) greater than 25, but less than or equal to 50 units
• D) greater than 50 units

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Definitions:

Cash Purchase

A transaction where goods or services are bought and paid for with physical currency at the time of purchase.

Inventory

Inventory encompasses the raw materials, work-in-progress goods, and the finished products that a company holds with the intention of selling them to earn revenue.

Multi-Column Purchases Journal

A specialized accounting journal that records the purchase transactions of a business in multiple columns for different types of purchases.

Accounts Payable Account

An accounting entry that represents a company's obligation to pay off a short-term debt to its creditors or suppliers.