Question 22
True or False? When making an estimate, indirect costs that are not recognized within the estimate will typically result in a positive impact on operations.
True
Correct!
False
Question 23
True or False? The average cost of inventory derived by using the weighted average inventory method is in fact an estimate. The weighted average cost is determined by dividing the cost of goods available for sale by the number of units available.
Correct!
True
False
Question 24
Parametric analysis is one type of benchmarking analysis. In parametric analysis:
the process that serves as a standard for comparison is examined.
the characteristics or attributes of similar services and the process that serves as a standard for comparison are examined.
None of these is correct.
the characteristics or attributes of similar services are examined.
Question 25
To estimate implies a judgment that takes the place of:
actual measuring.
All of these are correct.
Counting
testing out.
