Determine Whether a Census Is Practical in the Situation Described

question 131

Multiple Choice

Determine whether a census is practical in the situation described. Explain your reasoning.
-You want to determine the mean length of all the snakes in Illinois.

• A)A census is not practical. The number of snakes in Illinois is much too large.
• B)A census is practical. The population is small and it would be simple to measure their lengths.

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Definitions:

Ledger Adjustments

Entries made in the general ledger to correct errors, update account balances, or reallocate funds across accounts.

Multiple-Step Income Statement

An income statement format that separates operating activities from non-operating activities, distinguishing between sales and expenses directly related to the business's primary operations and other sources or uses of income.

Chart of Accounts

A systematic list of all account titles and numbers being used by an organization to track financial transactions and prepare financial statements.

Interest Expense

The cost incurred by an entity for borrowed funds, considered as a non-operating expense on the income statement.