The Procedure of Converting a Categorical Variable to Numeric Values

question 57

Multiple Choice

The procedure of converting a categorical variable to numeric values is called:

• A) deteriorating.
• B) piloting.
• C) coding.
• D) constructing.

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Definitions:

Depreciation

An approach to distributing the expense of a material asset across its period of utility.

Fiscal Year

A fiscal year refers to a 12-month period utilized by businesses and governments for the purposes of financial reporting and budgeting, and it doesn't always align with the calendar year.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting the decrease in value of the asset over time.

Balance Sheet

A financial report that offers a glimpse into a company's financial health at a given moment, breaking down the company's assets, debts, and owner's equity.