All of the Following Are Disadvantages of Open-Ended Response Questions

question 54

Multiple Choice

All of the following are disadvantages of open-ended response questions EXCEPT:

• A)cost
• B)interviewer bias
• C)irrelevancy
• D)nonrepresentativeness of respondents

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Definitions:

Unrecognized Prior Service Cost

Costs related to pension plan benefits that have been earned by employees in prior periods but have not yet been recognized in financial statements.

Pension Expense

The cost recognized in an accounting period related to an entity's pension plan, which includes service cost, interest cost, expected return on plan assets, and any amortization.

Straight-Line Method

An accounting method of depreciation in which an asset's cost is evenly spread over its useful life.

Actuaries

Professionals skilled in assessing the financial impact of risk and uncertainty, utilizing mathematics, statistics, and financial theory to study uncertain future events, especially in the insurance and finance industries.