A Professor Gives a New Test to an Otherwise Typical

question 15

Multiple Choice

A professor gives a new test to an otherwise typical class and finds that only 10 percent of the students get grades of C or above.What is the most appropriate and fair response?

• A)do nothing
• B)revise the grading curve downward
• C)revise the grading curve upward
• D)revise the test itself

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Definitions:

Cost of Goods Sold

The cost of goods sold (COGS) is the direct cost attributable to the production of goods sold by a company, including the cost of materials and labor.

Standard Cost System

An accounting system that uses estimated costs for material, labor, and overhead to assess performance and control costs.

Materials Quantity Variance

The variance between the real amount of materials consumed during manufacturing and the anticipated amount, as per norms.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are a significant portion of the total cost of production.