If We Were to Ask College Students, "To What Extent

question 17

Multiple Choice

If we were to ask college students, "To what extent do they value a college degree?" which type of sample plan would be most appropriate?

• A) Any probability sampling plan would be useful.
• B) A stratified sample because we would expect the answers to vary by strata: freshmen, sophomore, junior, and senior.
• C) A cluster sample because we would expect the answers to vary by cluster: freshmen, sophomore, junior, and senior.
• D) An area sample because we would expect the answers to vary by area: freshmen, sophomore, junior, and senior.
• E) None of the above would be appropriate. In fact, it would be best to use a nonprobability sampling technique.

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Definitions:

Balance Sheet

A financial summary capturing a company’s assets, obligations, and shareholders’ equity at a particular instant.

Ending Retained Earnings

The portion of net income left after dividends have been distributed to shareholders, reflected at the end of an accounting period.

Work Sheet

A work sheet is an informal business document used for preparing financial statements and facilitating the end-of-period accounting process, often in an Excel spreadsheet or similar format.

Adjusting Entries

These are journal entries made in an accounting system to update account balances prior to preparing financial statements, ensuring that all revenues and expenses are recorded in the appropriate periods.