Nominal Data Can Always Be Converted into

question 14

Multiple Choice

Nominal data can always be converted into

• A) ordinal data
• B) interval data
• C) ration data
• D) nominal data cannot be converted into any other scale since it depends

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Definitions:

Managerial Accounting

Managerial Accounting focuses on providing financial and non-financial information to an organization's management for decision-making, planning, and performance evaluation.

Financial Accounting

Financial accounting involves the recording, summarizing, and reporting of monetary transactions from business operations, presented in financial statements.

Flexibility of Reporting

The ability to adapt financial and corporate reporting to meet the specific requirements or preferences of users, enhancing the utility and readability of reports.

Raw Materials Inventory Turnover Ratio

A measure indicating how many times a company's raw material inventory is used up and replaced over a specific period, showing the efficiency in using its raw materials.