⊚ true
⊚ false
⊚ false
119) Predictive analytics is the process of recommending a course of action based upon meaningful patterns and insights from collected data.
⊚ true
⊚ false
⊚ false
120) Descriptive analytics uses patterns and insights from collected data to show what has happened.
⊚ true
⊚ false
⊚ false
121) An opportunity cost is the cost of not doing something.
⊚ true
⊚ false
⊚ false
122) Whether a cost is treated as direct or indirect depends on whether tracing the cost is both possible and practical.
⊚ true
⊚ false
⊚ false
123) Variable costs are always direct costs.
⊚ true
⊚ false
⊚ false
124) Fixed costs stay the same, on a per-unit basis, as activity level changes.
⊚ true
⊚ false
⊚ false
125) Prime costs include direct materials, direct labor, and manufacturing overhead.
⊚ true
⊚ false
⊚ false
126) All manufacturing costs are treated as product costs.
⊚ true
⊚ false
⊚ false
127) All manufacturing costs are inventoriable costs.
⊚ true
⊚ false
⊚ false
128) A cost that will occur in the future and differs between various alternatives under consideration is a relevant cost.
⊚ true
⊚ false
⊚ false
129) Managerial accounting information is mandated by the SEC and other regulatory agencies.
⊚ true
⊚ false
⊚ false
130) Managerial accounting information is considered proprietary in nature.
⊚ true
⊚ false
⊚ false