Categorical Data

question 56

Multiple Choice

Categorical data

• A) indicate either how much or how many.
• B) cannot be numeric
• C) are labels used to identify attributes of elements.
• D) must be nonnumeric.

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Definitions:

Future Tax

Taxes that are anticipated to be paid or recovered in future periods, often considered in financial projections and planning.

Deferred Tax Assets

These are amounts of income taxes recoverable in future periods due to deductible temporary differences, carry-forward of unused tax losses, and carry-forward of unused tax credits.

Deferred Tax Liabilities

Future tax payments that result from temporary differences between the accounting and tax bases of assets and liabilities.

Tax Rates

The percentages at which income, sales, or other taxable activities are taxed by governments.