In the standard regression equation of y=a+bx, the letter y is best described at the:
A independent variable
B dependent variable
C slope of the equation
D intercept of the equation
Answer: B
Which of the following statements is (are) true regarding product costing?
A individual product costs are relevant for managerial decision-making but irrelevant for preparing the financial statements
B A common decision facing managers is determining the price at which to sell their product or provide their services.
A only A is true
B only B is true
C Both A and B are true
D neither A nor B is true
Answer: B
In the cost equation TC+F+VX, V is best described as:
A costs that do not vary with changes in the activity level.
B intercept of the cost equation
C slope of the cost equation
D activity level used to estimate the dependent variable
Answer: C
