Module 8: Payroll Accounting / Terminology- Review Questions

Module 8: Payroll Accounting / Terminology- Review Questions

This quiz will review what you’ve learned in Module 8 about Advanced Forecasting Techniques.

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Question 1 of 10

1. Question

1.) Which of the following statements is true?

A. Any kind of forecasting technique is a guarantee for success

B. Some of the forecasting techniques are a guarantee for success

C. No technique is a guarantee, but using a standard tool is helpful

D. None of the above

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Question 2 of 10

2. Question

2.) When you do the averaging of historical data, it is suggested to use the data from:

A. Past five years

B. Past year

C. Past ten years

D. Past seven years

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Question 3 of 10

3. Question

3.) Why do we use the regression analysis tool?

A. We use it for predicting the future values

B. We use it for sorting the past values

C. For ascertainment of current values

D. None of the above

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Question 4 of 10

4. Question

4.) What kind of a tool is the regression analysis tool?

A. Practical

B. Theoretical

C. Statistical

D. Combined

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Question 5 of 10

5. Question

5.) What kind of tool is the extrapolation tool?

A. Statistical

B. Mathematical

C. Logical

D. Theoretical

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Question 6 of 10

6. Question

6.) What kind of data does the extrapolation tool use?

A. Historical data

B. Current data

C. Assumed future data

D. Combined data

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Question 7 of 10

7. Question

7.) Who uses the formal financial models?

A. Anyone

B. Investors

C. Managers

D. Accounting

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Question 8 of 10

8. Question

8.) Which of the following is not a formal financial model?

A. Profitability index

B. Equivalent annuity

C. External rate of return

D. Internal rate of return

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Question 9 of 10

9. Question

9.) ______is essential to assessing how much the budget should be.

A. Indexing

B. Scheduling

C. Forecasting

D. None of the above

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Question 10 of 10

10. Question

10.) When forecasting, you may need to factor in ___________.

A. Inflation

B. Taxes

C. A and B

D. Neither A nor B

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