A Nominal Variable with Only Two Categories Is Considered A/an

question 2

Multiple Choice

A nominal variable with only two categories is considered a/an:

• A) interval variable
• B) ratio variable
• C) binary variable
• D) ordinal variable

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Definitions:

Aging of Receivables Method

An accounting technique used to estimate the amount of and provision for doubtful accounts by categorizing receivables according to the length of time they have been outstanding.

Direct Write-off Method

An accounting method in which uncollectible accounts receivable are directly written off against income at the time they are deemed irrecoverable.

Aging Report

A financial report that categorizes a company's accounts receivable according to the length of time an invoice has been outstanding.

Balance Sheet

A balance sheet is a financial statement that portrays a company's financial position at a specific point in time, listing assets, liabilities, and shareholders' equity.