Determine the Sampling Technique Which Is Used

question 36

Multiple Choice

Determine the sampling technique which is used
-A writer for an art magazine randomly selects and interviews fifty male and fifty female artists. What sampling technique is used

• A) stratified
• B) random
• C) cluster
• D) convenience
• E) systematic

Identify the components and purposes of journalizing and posting in accounting.

Recognize the normal balance side for different types of accounts.

Understand the role of the drawing account and its impact on owner's equity.

Comprehend the process and significance of recording transactions in the journal and posting them to ledger accounts.

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Definitions:

FIFO Method

A method of inventory valuation where the first items placed in inventory are the first ones to be used or sold.

Mixing Department

A specific section within a manufacturing facility where raw materials are combined to produce a homogeneous product.

Equivalent Units

A calculation used in process costing that converts partially completed units into a number of fully completed units, facilitating cost analysis.

FIFO Method

Stands for "First In, First Out," a method of inventory valuation where the oldest items are sold first.