Bookkeeping and Account Test with Correct Answers
Cyclical variations - Answer-Variations in sales occurring over periods of time of much more than a year.
Random variations - Answer-May occur at any time and will cause unusual and unpredictable sales figures; e.g. exceptionally poor weather...
Bookkeeping and Account Test
with Correct Answers
Cyclical variations - Answer-Variations in sales occurring over periods of time of much
more than a year.
Random variations - Answer-May occur at any time and will cause unusual and
unpredictable sales figures; e.g. exceptionally poor weather, or negative public image
following a high-profile product failure.
time series - Answer-Is a series of figures or values recorded over time
Interpolation - Answer-A forecasting data within the historical data range
extrapolation - Answer-A forecasting data outside of the historical data range
Product Life Cycle (PLC) - Answer-the course of a product's sales and profits over its
lifetime
Recession - Answer-period of reduced economic activity
Depression - Answer-A long-term economic state characterized by unemployment and
low prices and low levels of trade and investment
recovery - Answer-A period of renewed economic growth followed by a recession or
depression.
boom - Answer-A period of rapid economic growth
market research - Answer-The activity of gathering information about consumers' needs
and preferences.
Sampling - Answer-The process of selecting representative units from a total population
random sampling - Answer-a sample that fairly represents a population because each
member has an equal chance of inclusion
Accounting - Answer-planning, recording, analyzing, and interpreting financial
information
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