A Sampling Technique in Which Every Element in the Population

question 5

Multiple Choice

A sampling technique in which every element in the population has an equal chance of being selected is called:

• A)additive sampling.
• B)sequential sampling.
• C)100 percent testing.
• D)random sampling.
• E)cumulative sampling.

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Definitions:

Budgeted Amounts

Estimates of revenues, expenses, and other financial activities for a future period, used for planning purposes.

Operating Departments

Divisions within an organization responsible for carrying out the main business activities directly related to generating revenues.

Two-Stage Cost

A method in cost accounting where costs are allocated to cost centers in two stages, first to departments then to products or services.

Joint Cost

Costs incurred in the process of producing multiple products simultaneously, where the costs cannot be easily separated for each product.