Whenever We Discover How Many Persons, Things, or Events Have

question 49

Multiple Choice

Whenever we discover how many persons, things, or events have X or Y in common, we are dealing with the

• A) nominal scale
• B) ordinal scale
• C) interval scale
• D) the mere number of persons, things, or events having X or Y in common

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.

Cost of Merchandise Sold

An expense account that reflects the direct costs associated with the goods sold by a company during an accounting period.

Equation

A mathematical statement that asserts the equality of two expressions, represented by the symbol "=".

Gross Profit

Sales minus the cost of merchandise sold.