Reliability Refers to Consistency of Measurement,while Validity Assesses Whether the Measurement

question 40

True/False

Reliability refers to consistency of measurement,while validity assesses whether the measurement accurately captures what it was intended to measure.

---

Definitions:

Defective Merchandise

Defective merchandise refers to products that are damaged or fail to meet quality standards or specifications at the time of sale.

Gross Profit

The financial measure calculated by deducting the cost of goods sold from total sales revenue.

Selling Expenses

Costs associated with the marketing and distribution of a product, including advertising, sales staff salaries, and shipping costs.

Perpetual Inventory

An inventory management system that continuously tracks the quantity and value of inventory, updating records in real-time as transactions occur.