Simple Random Sampling Is an Appealing Method Because

question 10

Multiple Choice

Simple random sampling is an appealing method because:

• A)it meets the requirements to obtain a probability sample.
• B)it can be used to derive unbiased estimates of population characteristics.
• C)it guarantees every population member has an equal chance of being selected.
• D)it results in a valid representation of the population.
• E)all of the above

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Definitions:

Natural Business Year

The fiscal year that ends when a business's activities have reached the lowest point in its annual operating cycle, theoretically the most optimal time for financial reporting.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate years.

Contra Account

An account used in accounting to offset or reduce the balance of a related principal account.

Prepaid Expenses

Costs paid in advance for goods or services to be received in the future, which are recorded as assets until they are consumed.