Provide answer to this accounting Regression analysis in cost accounting isprimarily used toa) Predict cost behaviourb) Calculate taxesc) Record transactions?d) Prepare financial statements

Step 1:Cost accounting primarily uses regression analysis to predict cost behavior by examining the…

Answered: Regression analysis in cost accounting…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter2: The Accounting Information System

Section: Chapter Questions

Problem 5MCQ

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Similar questions

Under the historical cost accounting model the financial statement that is regarded as the most important is: Select one: a. Balance sheet b. Cash flow statement c. Income statement d. They are all equally important
Explain the following and describe its impact on the financial statements: a. cost principle b. conservatism c. time period assumption
Classify the Costs for Financial Statements?
The accounting principle upon which deferrals and accruals are based is Oa. conservatism Ob. matching Oc. price-level adjustment Od. cost
Period cost shown in statement of financial position. True or false
Which of the following facilitates the comparison of financial performance with one period to another period is possible ? O a. Historical cost concept O b. Going concern Assumption O c. Matching Concept O d. Consistency Principle
What is net operating income approach, what are the assumptions of this approach. In what conditions it is appropriate to use this approach. How the calculations are made, explain with an example.
Reviewing cost behaviour patterns over time from the accounting records and using that review to predict future costs best describes: O Regression analysis O Scatter plots O Analysis at the account level O Two-point methods
The costing and finance function prepares. a Budget and forecast calculations O b. Fixed asset depreciation calculations Oc. Salaries and wages calculations Od. Expense and income calculations Oe Income tax and value added tax calculations Clear my choice
Accounting Current Cost Measurement Why liabilities, such as Accounts Payable (an obligation) is usually recorded using current cost in the financial statements rather than historical cost measurement?
How does accounting rate of return (ARR) differ from the internal rate ofreturn (IRR)?
What is the effect on the current period income statement and the balance sheet when inventories are written down using the lower of cost or market method? What is the effect on future period income statements and balance sheets?

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Regression analysis in cost accounting is primarily used to a) Predict cost behaviour b) Calculate taxes c) Record transactions ? d) Prepare financial statements