The Problem with the Gallup Poll of 1948 (When Dewey

question 21

Multiple Choice

The problem with the Gallup poll of 1948 (when Dewey was predicted to beat Truman) was that

• A) the polling ended too soon
• B) the "undecideds" were split 50/50
• C) many of the "undecideds" had, in fact, already made up their minds
• D) all of these

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Definitions:

Installment Method

An accounting technique for recognizing revenue and expenses from sales made on credit in proportion to the payments received, rather than at the time of sale.

Deferred Gross Profit

Profit from sales transactions not yet recognized in the income statement, typically because the revenue recognition criteria have not been fully met.

Installment Receivables

Money owed to a company from its customers who have purchased goods or services on a payment plan over a set period of time.

Realized Gross Profit

The total earnings a company makes after deducting the direct costs associated with producing its goods or services.