Law School Admission Test (LSAT)scores Are an Example of What

question 118

Multiple Choice

Law School Admission Test (LSAT) scores are an example of what type of measurement scale?

• A)interval level data
• B)ordinal level data
• C)nominal level data
• D)ratio level data
• E)relative level data

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Definitions:

Internal Control

Methods and practices put in place by an organization to guarantee the accuracy of financial and accounting data, encourage responsibility, and inhibit fraudulent activities.

Physical Inventory

The process of counting and verifying the actual quantities of goods in stock at a particular time.

Inventory Cost Formulas

Methods used to determine the cost of inventory sold and ending inventory value, such as FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and weighted average cost.

FIFO

First In, First Out, an inventory valuation method that assumes that the first items placed in inventory are the first sold.