There Are Two Primary Methods to Summarize Nominal Data: Counting

question 9

Multiple Choice

There are two primary methods to summarize nominal data: counting and grouping, and __________.

• A) ranking
• B) charting
• C) averaging
• D) proportion

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Definitions:

Control

In a business context, control refers to the power to govern the financial and operational policies of an entity so as to obtain benefits from its activities.

Self-Contained Foreign Subsidiaries

Independent overseas entities of a parent company that manage their operations, accounting, and reporting locally.

Current Rate

The present value of foreign currencies in terms of domestic currency, used in converting foreign transactions to the domestic currency denomination in accounting.

Translation

In accounting, refers to the process of converting financial statements from one currency into another, often for consolidation purposes.