A Random Sample Means That

question 3

Multiple Choice

A random sample means that

• A) every person in the target population has an equal chance of being selected.
• B) there is no pre-planning in the selection process.
• C) every person in the target population who is encountered is selected.
• D) researchers decide how many persons of certain types they need in the survey.
• E) the poll is unscientific.

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Definitions:

Temporary Accounts

Accounts used to track transactions in a single accounting period, which are closed and transferred to permanent accounts at the end of the period.

Income Summary

An account used in the closing process that summarizes the revenue and expenses of an accounting period to determine the net income or loss.

Capital Account

An account showing the net worth of a business at a specific point, calculated as assets minus liabilities and preferred stock.

Revenues

The total income generated from normal business operations, often from the sale of goods and services.