The Lowest Level of Measurement That Has Some Sort of Ranking

question 63

Multiple Choice

The lowest level of measurement that has some sort of ranking is ____________.

• A) nominal
• B) ordinal
• C) interval
• D) ratio

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, after all purchases and sales have been accounted for.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases are added or sales are subtracted.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated before the next period's inventory is added.