In any regression model, there is an implicit assumption that a relationship exists between the variables

Adjusting entries:

a. Affect only income statement accounts. b. Affect only balance sheet accounts. c. Affect both income statement and balance sheet accounts. d. Affect only cash flow statement accounts. e. Affect only equity accounts.

The purpose of the departmental overhead cost report is to

a) control indirect labor costs. b) control selling expense. c) determine the efficient use of materials. d) control overhead costs.