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The F–test
The significance of the regression results can be tested by using the F- statistics. The F-statistics is a ratio which compares the explained sum of squares and the unexplained sum of squares.Therefore, F = mean sum of squares due to regression Mean sum of squares due to residualFor calculation purposes:F = r2 /K (1 – r2)/n-k-1F statistics can then be used to test the hypothesis that the relationship between the dependent variables and all the independent variables is not significant.
FLEXIBLE BUDGETING Flexible budget may be used in one of two ways: Planning and Control. At the planning stage when budgets are set, to reduce the effect of uncertainty. For ex
INVENTORY CONTROL The activities of a business during a financial year combine investment projects in progress with new projects commencing and others terminate within the year
Economies or Diseconomies of Scale The costs of a value activity are often subject to economies or diseconomies of scale. Economies of scale occur from the capability to perfo
Stock-out costs These are the opportunity costs of running out of stock. They comprise: 1) The costs of lost customer sales, and therefore lost contribution to fixed costs.
What is performance budgeting The concept of performance budgeting is used mainly in the government and public sector undertakings. It projects the government activities an
Importance of a budget A Budget is a plan expressed in monetary terms. It is prepared prior to the budget period and may show income, expenses and the capital to be used i.e. a
Characteristics of irrelevant costs
Attributes of good information 1) Information is anything that is communicated and is sometimes said to be processed data. It is data processed in such a way as to be of meaning
how to journalize entry. purchased $150,000 of raw materials on account, terms of 2/20; n/30
INTRODUCTION AND RATIONALE The purpose of this assignment is to help students further develop a number of the skills and knowledge required and valued by the accountancy profe
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