Which of the Following Is Not One of the Steps

question 4

Multiple Choice

Which of the following is not one of the steps in the modeling process?

• A) Select the scale for the model.
• B) Collect and summarize data.
• C) Verify the model.
• D) Present the results.
• E) Implement the model and update it through time.

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Definitions:

Financial Year

A period of twelve months used for accounting purposes and the preparation of financial statements, not necessarily aligning with the calendar year.

Cash Receipts Journal

A specialized accounting journal used to record all money that is received by a business.

Cash Sale

A transaction where payment for a good or service is made at the time of the sale, usually in the form of cash or equivalent.

Food Revenue

Income generated from the sale of food products or services.