Teachers Need to Show Students How We Use Data Analysis

question 4

Multiple Choice

Teachers need to show students how we use data analysis and probability in our everyday lives so:​

• A)it doesn't seem so concrete.
• B)they know we understand the concepts.​
• C)it doesn't seem so abstract.
• D)they are in compliance with standards based reform.

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Definitions:

Accrual Basis

A financial recording technique that documents income and costs at the time they are generated or incurred, without consideration of when the actual cash transaction occurs.

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income or loss.