Which of the Following Best Describes the Use of Manual

question 11

Multiple Choice

Which of the following best describes the use of manual accounting systems in Canada today?

• A) Small retail businesses with less than ten employees use manual accounting systems.
• B) Very few small businesses use manual accounting systems.
• C) Nearly one million small businesses use manual accounting systems.
• D) All small businesses use manual accounting systems.

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Definitions:

Point Estimate

A single value or statistic that serves as the best guess or most plausible value of a population parameter based on sample data.

Sample Proportion

The fraction or percentage of the sample that represents a particular characteristic or attribute within the population.

Finite Population Correction Factor

A correction used in sampling to adjust for the effect of sampling without replacement from a finite population.

Subset

A set of elements that are all members of another set, and possibly fewer in number.