If IQ Was Measured on a Ratio Scale, and John

question 98

True/False

If IQ was measured on a ratio scale, and John had an IQ of 40 and Fred an IQ of 80, it would be correct to say that Fred was twice as intelligent as John.

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Definitions:

Conservatism Principle

An accounting principle that advises reporting expenses and liabilities as soon as possible, but revenue only when it is ensured.

Gross Profit Method

An inventory valuation method used to estimate the cost of goods sold and ending inventory levels by applying a gross profit margin to sales.

Gross Profit Ratio

The gross profit ratio is a financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold (COGS), expressed as a percentage.

Estimated Cost

An approximation of the cost or expenditure associated with an activity, project, product, or service, made in the absence of precise information.