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For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement on which the account balance is reported, and in Column 4 the nature of the account (permanent/temporary).
Example:
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Scatterplot
A type of graph used in statistics to display values for typically two variables for a set of data where the dots in the plot indicate the values obtained for each individual.
Explanatory Variable
A type of independent variable that is manipulated or categorized to measure its effect on a dependent variable.
Response Variable
A variable that measures the outcome of a study, often used as the dependent variable whose changes are tested against independent variables.
Categorical Variables
Variables that can take on one of a limited and usually fixed number of possible values, representing qualitative data, such as gender or eye color.
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