Which of the Following Does Not Correctly Describe a Business

question 116

Multiple Choice

Which of the following does not correctly describe a business transaction?

• A)They include exchanges of assets or services by one business for assets, services, or liabilities from another business.
• B)They include the using up of insurance paid for in advance.
• C)They have an economic impact on a business entity.
• D)They do not include measurable internal events such as the use of assets in operations.

---

Definitions:

Sampling Error

The discrepancy between a sample statistic and its corresponding population parameter, due to the fact that the sample is not a perfect representation of the population.

Systematic Error

A consistent, predictable error associated with the measurement process that affects all data points in the same direction.

Non-random Error

Error in data collection or analysis that systematically distorts the results, often due to biased sampling or measurement.

Binomial Distribution

Distribution of probabilities for a binomial variable.