Rating Scales Are Subjective and the Evaluation or Assessment Is

question 66

True/False

Rating scales are subjective and the evaluation or assessment is based on the rater's "inner judgment" and can be filled with biases.

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Definitions:

Merchandise

Goods bought and sold by a business in the ordinary course of its trading activity.

Credit

An accounting entry that increases liabilities or equity or decreases assets, or an arrangement to receive cash, goods, or services now and pay for them in the future.

Credit Sales

Transactions where goods or services are sold to a customer with an agreement to pay at a later date.

Cash Collection

The process of receiving and processing payments from customers.