This Term Is Used When a National Sample of Students

question 57

Multiple Choice

This term is used when a national sample of students of the same age/grade take the same assessment and establish a mean and standard deviation.

• A) Norm-referenced
• B) Standardized
• C) Derived scores
• D) Measures of central tendency

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, individual, or other entity, typically comprising the balance sheet, income statement, and cash flow statement.

Compensating Balances

Minimum balance requirements imposed by banks on certain accounts, which businesses must maintain in order to receive some form of credit or service.

Prompt Payment Discounts

Incentives provided by sellers to encourage buyers to pay their invoices early.

Quantity Discounts

Price reductions offered to buyers purchasing in large volumes.