A Value Computed from a Population Is Called

question 159

Multiple Choice

A value computed from a population is called:

• A) a statistic.
• B) a real number.
• C) a parameter.
• D) a point estimate.

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Definitions:

Physical Inventory

Physical inventory entails a manual count of all the tangible goods or merchandise kept in a business's possession for the purpose of verifying records and ensuring accuracy in financial statements and records.

Balance Sheet

A financial report that offers a brief overview of a corporation's financial status at a certain moment, detailing the assets, liabilities, and shareholders' equity.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, net income, and earnings per share.

Inventory Count

A physical verification of the quantities and condition of items in a company's inventory, used to ensure accuracy of accounting records.