The graph which plots the series of successive observations of specific procedure, operation or step at regular time intervals is called ____________?
Correct answer: D. control chart
- A. relevant costing diagram
- B. cause and effect diagram
- C. pareto diagram
- D. control chart
Explanation
A control chart plots successive observations of a process at regular intervals and compares them with control limits to detect unusual variation. Pareto and cause-and-effect diagrams analyse problems differently rather than track performance over time.
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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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