Non-Probability Sampling Methods Take Shortcuts That

question 10

Multiple Choice

Non-probability sampling methods take shortcuts that:

• A)save time, effort, and money
• B)obliterate the equal-chance guarantee of any probability sampling method
• C)evidence a lazy researcher
• D)lead to accurate, representative results at reduced costs
• E)both A and B

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Definitions:

Ending Inventory

The total value of unsold goods that a company has in stock at the end of an accounting period.

LIFO Method

The Last-In, First-Out (LIFO) Method is an inventory valuation approach where the last items added to inventory are assumed to be the first sold, affecting the cost of goods sold and inventory valuation on financial statements.

Effective Tax Rate

The average percentage of income that a business or individual pays in taxes, calculated by dividing total tax expense by taxable income.

FIFO Method

An inventory valuation method where the first items placed in inventory are the first sold, standing for First-In, First-Out.