Which of the Following Examples Illustrates Estimation

question 36

Multiple Choice

Which of the following examples illustrates estimation?

• A)The actual percentage of unemployed Americans
• B)The varying valid percentages of Republicans and Democrats who closely follow controversial political news
• C)The actual average level of education in the United States
• D)The percentage of Americans who favor gay and lesbian relations as approximated by the Gallup organization

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Definitions:

Comparative Balance Sheet

A financial statement that displays the company's financial position at different periods of time side by side for comparison.

Direct Method

A method of reporting cash flows from operating activities by showing major classes of gross cash receipts and payments.

Accounts Receivable

Receivables from customers to a business for goods or services that have been supplied but payment has not been made.

Sales Revenue

The total amount of money generated from the sale of goods or services by a company before any costs or expenses are deducted.