Nonrestrictive Questions Designed to Give the Respondent Maximum Latitude in Formulating

question 24

Multiple Choice

Nonrestrictive questions designed to give the respondent maximum latitude in formulating an answer are known as what kind of questions? Choose the BEST answer.

• A) Primary
• B) Open
• C) Secondary
• D) Closed

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Definitions:

Extraordinary Gain

A gain that arises from events or transactions that are distinct and infrequent in nature, not expected to recur regularly.

Provision For Inventories

An accounting practice where a reserve is made for potential decreases in the value of a company’s inventory.

Inventories Losses

Reductions in the amount or value of inventories due to factors such as deterioration, obsolescence, or theft, resulting in financial loss.

Lower Of Cost

An accounting principle requiring that the inventory is recorded at the lower of its cost or the current market value.