An analysis of data over successive past periods, which pertain to some plant, activity and organization is called ___________?
Correct answer: B. time series
- A. economic series
- B. time series
- C. financial series
- D. analytical series
Explanation
A time series is data observed over successive periods, such as monthly production or cost figures for a plant. The time dimension distinguishes it from a single-period or cross-sectional analysis.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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