Under Which of the Following Conditions Is Qualitative Forecasting Considered

question 37

Multiple Choice

Under which of the following conditions is qualitative forecasting considered attractive?

• A) When past data are either misleading or obsolete.
• B) When the forecasts have to be documented.
• C) When the forecasts have to be independent of the forecaster's judgment.
• D) When the forecasts can be based on reliable data.

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Definitions:

Production Costs

Expenses directly and indirectly involved in creating a product, including materials, labor, and overhead costs.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a unit of product.

Net Income

The total profit of a company after all expenses, including taxes, have been subtracted from total revenues.

Operating Expenses

Costs associated with running the day-to-day operations of a business, excluding costs related to production or manufacturing.