Which of the Following Statements Are Correct

question 28

Multiple Choice

Which of the following statements are correct?

• A) The likelihood that a given association is due to chance becomes smaller as the sample size increases.
• B) Larger samples generally produce more accurate results.
• C) Increases in sample size beyond 2,000 or so juveniles only produce small increases in accuracy.
• D) all of the above
• E) none of the above

Understand the concept of a budget and its role in planning, controlling, and decision-making processes.

Grasp the methods for estimating collections from sales and payments for expenses, including the timing and amounts.

Understand the procedures for calculating and managing inventory levels within the budgeting process.

Recognize the importance of accurate and realistic budget preparation, including the ethical considerations involved.

---

Definitions:

Budget Surplus

The condition where a government's revenues exceed its expenditures over a specific period of time.

Public Saving

The difference between government receipts and government spending, representing the amount the government either saves or borrows.

Positive

In economics, referring to statements or analyses that are fact-based and describe the world as it is, rather than how it should be.

Budget Deficit

Occurs when a government spends more money than it receives in revenue over a specific period of time.