Of the Four Communication Methods,_______________ Is by Far the Fastest

question 70

Multiple Choice

Of the four communication methods,_______________ is by far the fastest way to obtain large quantities of data.

• A) personal interviews
• B) telephone interviews
• C) mail interviews
• D) Internet-based methods

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Definitions:

Full Disclosure

A principle requiring that all material facts and information related to financial transactions be disclosed in financial statements.

Conservatism Principle

An accounting principle that advises reporting expenses and liabilities as soon as possible, but revenue only when it is ensured.

Gross Profit Method

An inventory valuation method used to estimate the cost of goods sold and ending inventory levels by applying a gross profit margin to sales.

Gross Profit Ratio

The gross profit ratio is a financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold (COGS), expressed as a percentage.