Census Is Appropriate If the Population Size Is Large and the Cost

question 23

True/False

Census is appropriate if the population size is large and the cost and time associated with obtaining the information is high.

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much revenue contributes to fixed expenses and profit.

Internal Decision-making

The process within an organization to choose actions among several alternatives based on policies, procedures, or the managerial judgment.

Contribution Margin

The difference between sales revenue and variable costs, representing the portion of sales that helps cover fixed costs.

Sales

The transactions or business activities related to selling goods or services, generating revenue for the company.