Discriminant Analysis Identifies Clusters of Attributes on Which Objects Differ

question 9

True/False

Discriminant analysis identifies clusters of attributes on which objects differ, similar to factor analysis

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Definitions:

Accounting Record

Documentation and books that record all financial transactions of a business, essential for preparing financial statements and tracking financial performance.

Double-Entry Accounting

A bookkeeping system that requires every financial transaction to be recorded in at least two accounts, ensuring the accounting equation is always balanced.

Debit

A financial record that leads to a rise in assets or a fall in liabilities in a corporation's balance sheet.

Credit

An accounting entry recording a decrease in assets or increase in liabilities and equity, or a transaction where goods or services are received with a promise of future payment.