Discrete Data Are Inherently Categorical

question 25

True/False

Discrete data are inherently categorical.

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Definitions:

Units

A measure of quantity representing the amount of product or service.

Inventory

The quantity of goods or materials that a business has on hand at any given time.

Inventoriable Costs

Costs that are considered as assets on the balance sheet until the related goods are sold, at which point these costs are transferred to the cost of goods sold on the income statement.

Cost of Goods Purchased

The total expenses incurred to acquire inventory that is intended for resale.