Determine Whether the Quantitative Variable Is Discrete or Continuous

question 94

Multiple Choice

Determine whether the quantitative variable is discrete or continuous.
-the speed of a car on a Boston tollway during rush hour traffic

• A) continuous
• B) discrete

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold.

LIFO

"Last In, First Out," an inventory valuation method where goods purchased last are the first to be used or sold.

Perpetual Inventory System

A method of inventory management that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Ending Inventory

The total value of all goods still available for sale at the end of an accounting period.