Imagine We Are Want to Ask Whether or Not Respondents

question 69

Multiple Choice

Imagine we are want to ask whether or not respondents ever drank alcohol. Which of the following response choices below would be considered exhaustive?

• A) Never drank alcohol; drank alcohol at least once in your lifetime
• B) Drank alcohol once in lifetime, but not in past year
• C) Drank alcohol in the past year, but not the past month
• D) Never drank alcohol

---

Definitions:

Entity Approach

A method in accounting that treats a business as separate from its owners or stakeholders for reporting and evaluation purposes.

Consolidated Balance

A financial statement that presents the total assets, liabilities, and equity of a parent company and its subsidiaries as if they are a single entity.

Retained Earnings

Profits generated by a company that are not distributed to shareholders as dividends, but are kept for reinvestment in the business or to pay off debt.

Useful Life

The estimated period over which a fixed asset is expected to be useful to the owning entity, beyond which it is considered to be no longer efficient for use.