A Researcher Is Gathering Data from Four Geographical Areas Designated

question 55

Multiple Choice

A researcher is gathering data from four geographical areas designated: South = 1; North = 2; East = 3; West = 4. The designated geographical regions represent

• A)categorical data
• B)quantitative data
• C)label data
• D)either quantitative or categorical data

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Definitions:

Perpetual Inventory System

An inventory management method where records of inventory quantities are updated in real-time after every transaction.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Merchandising Company

A business that purchases finished goods for resale, making a profit on the difference between the buying and selling prices.

Service Company

A business that provides intangible products (services) to consumers, as opposed to selling physical goods.