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notsponge [240]
3 years ago
14

Cost predictions should be confined to the relevant range, which is the range of activity expected for the organization. If the

organization operates at an activity level outside the relevant range, any cost predictions based on data from the relevant range may not be very accurate. What happens if outliers are present in your data?
Business
1 answer:
Lostsunrise [7]3 years ago
6 0

Answer:

TRUE

Explanation:

In managerial accounting, there are 2 meanings and significance of a relevant range.

1. The relevant range is the level of activity (range) that a firm is operating i.e. the volume of its production activity.

2. The relevant range is the level of activity within which certain cost behaviors are true i.e. whether the costs by their characteristics are fixed or variable.

Beyond a relevant range, cost behaviors could change in 2 ways

1. Variable costs could start manifesting the characteristic of semi variable costs or mixed costs or

2. Fixed costs could become stepped and become stepped fixed costs.

Therefore cost estimations which is based on cost behavior are only VALID within the relevant range. It is only within a given level of output that certain cost estimations holds true.

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While on a hike with a tour group in the mountains, Derek gets mauled by a bear. No previous reports of bears in the area had be
wlad13 [49]

Answer: D. Derek assumed the risk of a bear attack by joining the tour group, so he cannot hold the tour company liable

Explanation:

Derek has to accept that by joining the tour group, he assumed some the risk of some elements of danger amongst them the bear attack.

Even though there had been no prior attack by bears in the mountain, a mountain hike still has some inherent danger in it and this includes bears. He cannot hold the tour company liable using this reason alone.

4 0
3 years ago
Type the correct answer in the box. Spell all words correcty.
Nookie1986 [14]

Answer and Explanation:

The information management refers to manage the information in effecetive and efficient manner. It could be in terms of storing, organizing, developing, using, distributing the information so that it became useful for the organization

Here, the goal of information management is to identify the requirement of the information for various management levels so that it can be used in appropriate manner.

5 0
3 years ago
When the production manager finds the average life of her battery-lifetime data, this is an example of what phase of inferential
den301095 [7]
Finding the average life of her battery lifetime data is an example of : D. Data analysis

in order to find out the average life, she must previously gather the data about her battery's lifetime over a period of time, then analyze it to find the average line

hope this helps
3 0
3 years ago
Read 2 more answers
Typically, the ________ style of leader avoids dominating groups. autocratic laissez-faire authoritarian democratic
aleksklad [387]

Typically, the<u> laissez-faire</u> style of a leader avoids dominating groups.

In French, "laissez-faire" literally means "let someone do what they want". The origins of laissez-faire are associated with his group of 18th-century French economists, the Physiocrats, who believed that government policy should not interfere with the running of the natural economy.

An example of laissez-faire is the economic policies of capitalist countries. An example of laissez-faire is when homeowners can grow whatever they want in their front yard without asking for a city permit. Do not interfere in the affairs of others.

Disclaimer: Learn more about laissez-faire here brainly.com/question/17259480

#SPJ4

3 0
2 years ago
Suppose that the government decides to regulate this natural monopolist by requiring the firm to charge a price of P2. Which is
Natali5045456 [20]

If the government takes this approach, consumer surplus would increase.

A monopoly is when there is only one firm operating in an industry. A natural monopoly occurs when there is a high start-up cost associated with opening a business or a firm enjoys economies of scale.

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good. As the price of a good declines, consumer surplus increases. P2 is lower than P1, this means that if price is regulated to P2, consumer surplus would increase.

Please find attached the graph required to answer this question. To learn more, please check: brainly.com/question/15415230

7 0
2 years ago
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