Which of the Following Is NOT a Reason for Selecting

question 179

Multiple Choice

Which of the following is NOT a reason for selecting a sample?

• A)A sample is less time consuming than a census.
• B)A sample is less costly to administer than a census.
• C)A sample is usually not a good representation of the target population.
• D)A sample is less cumbersome and more practical to administer.

---

Definitions:

Periodic Inventory System

A method of inventory valuation where updates to inventory records are made at specified periods, rather than continuously.

FIFO

"First-In, First-Out," an inventory valuation method where the first items purchased or produced are the first ones sold, affecting the cost of goods sold and ending inventory.

LIFO

Last-In, First-Out, an inventory valuation method where the most recently produced or acquired items are the first to be expensed.

Average Cost

A calculation that divides the total cost of goods available for sale by the total units available for sale, offering a way to determine the cost of an item's inventory.