Carmen Identifies Each Member of the Group She Wants to Sample

question 22

Multiple Choice

Carmen identifies each member of the group she wants to sample and records their identifications on a list. She cuts the list into strips, each with a single identification, and puts them into a basket. She then closes her eyes and draws strips of paper from the basket until she has the number of strips she wants. Carmen is using ______ sampling.

• A) systematic
• B) area
• C) simple random
• D) stratified random
• E) convenience

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Definitions:

Loss Contingencies

Possible financial losses that companies may face as a result of future events that have uncertain outcomes, necessitating disclosure in financial statements if they are both probable and estimable.

Gain Contingencies

Gain contingencies are potential increases in economic benefits to an organization that arise from events whose outcomes or realizations are uncertain until they occur.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which does not necessarily align with the calendar year.

Coupons

Debt instruments offering interests or discounts issued by companies to raise capital, or vouchers offering discounts on goods and services.