(I the General Process of Gathering, Organizing, Presenting, Analyzing, and Interpreting

question 40

Multiple Choice

(i. The general process of gathering, organizing, presenting, analyzing, and interpreting data to
Assist in making more effective decisions is called
(ii. The general process of analyzing, and interpreting data to assist in making more effective
Decisions is called
(iii) The subset of individuals or objects of interest or the measurements obtained from all
Individuals or objects of interest is called

• A) (i) statistics, (ii) descriptive statistics, and (iii) a population.
• B) (i) descriptive statistics, (ii) inferential statistics, and (iii) a sample.
• C) (i) inferential statistics, (ii) descriptive statistics, and (iii) a population.
• D) (i) statistics, (ii) inferential statistics, and (iii) a sample.
• E) (i) statistics, (ii) inferential statistics, and (iii) a population.

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Definitions:

Decrease Side

The side of an accounting equation or ledger where decreases in assets, expenses, or dividends are recorded, often the credit side for assets and the debit side for liabilities and equity.

Asset Account

A category within the general ledger that reports the value of a company's assets such as cash, equipment, and property.

Liability Account

An accounting record that reports the amounts a company owes to creditors and other parties, often categorized as current or long-term.

Owner's Equity Account

Represents the total amount of capital the owner has in a business after liabilities have been subtracted from assets.