Respondent Error Can Occur When a Subject Is Asked to Remember

question 1

Multiple Choice

Respondent error can occur when a subject is asked to remember and report past behaviors. Which of the following helps eliminate this type of error?

• A) Descriptive data
• B) Causal data
• C) Cross-sectional data
• D) Panel data
• E) Experimental data

---

Definitions:

Unearned Revenue

Money received by a company for products or services that have not yet been delivered or completed, considered a liability until the revenue is earned.

Adjusting Entries

Journal entries made in accounting to update the records for expenses and revenues that have accrued but are not yet recorded.

Adjustment Data

Information used to make corrections or changes to financial records and statements, ensuring accurate reporting.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made for accruals, deferrals, and other adjustments.