Monica Is Gathering Data for a Client's Blood Drive

question 18

Multiple Choice

Monica is gathering data for a client's blood drive. She collects demographic statistics on blood donors in the area, the number of e-mail accounts that have received an invitation, and the number of people who respond to a Facebook invitation. The data she is gathering are known as ___________ research.

• A) Complex
• B) Ineffective
• C) Quantitative
• D) Qualitative

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Definitions:

Retained Earnings

The portion of net income that is not distributed to shareholders as dividends, but rather kept by the company for reinvestment in its operations or to pay debt.

Closing Process

The accounting procedures used to close out business accounts at the end of an accounting period.

Income Summary Account

A temporary ledger account used during the closing process that accumulates revenues and expenses before transferring the net amount to the capital or retained earnings account.

Net Income

The sum of money a company retains as profit after all financial obligations and taxes are deducted from its total income.