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1.Which of the following is true about the high-low method? Select one: a. Assumes a curvilinear relationship between cost and activity b. Can be used

1.Which of the following is true about the high-low method? Select one:

a. Assumes a curvilinear relationship between cost and activity

b. Can be used unless mixed costs are involved

c. It is used to estimate fixed and variable cost elements of a mixed cost

d. Is more accurate than the least squares method

2.

Financial accounting data are expected to be objective and verifiable.

Select one:

True

False

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