Which of the Following Conditions Does Not Favor the Use

question 59

Multiple Choice

Which of the following conditions does not favor the use of a census (Table 11.1 in the text) ?

• A) The cost of sampling errors is high.
• B) The cost of nonsampling errors is low.
• C) There is high variance in the characteristic to be measured.
• D) The population is large.

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Definitions:

Inflation

The velocity at which the aggregate pricing for goods and services goes up, undermining the ability to buy.

Return On Sales Ratio

A financial metric measuring the efficiency of a company in generating profit from its sales, calculated by dividing operating profit by total sales.

Financial Statements

Records presenting a snapshot of a business's financial health, encompassing the balance sheet, income statement, and cash flow statement.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations with its current assets compared to its current liabilities.