What Level of Measurement Is Being Used in the Statement,"A

question 51

Multiple Choice

What level of measurement is being used in the statement,"A fox terrier is smaller than a Russian wolfhound,but bigger than a Chihuahua."

• A)Nominal
• B)Ordinal
• C)Internal
• D)Ratio
• E)None of the above

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Definitions:

Accruals

Accounting adjustments for revenues that have been earned or expenses that have been incurred but are not yet recorded in the accounts.

Deferred Revenue

Money received by a company for goods or services not yet delivered or performed, recorded as a liability until the transaction is completed.

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities, and equity) in a balance sheet is represented as a proportion of the total account.

Financial Statement

A formal record of the financial activities and position of a business, individual, or other entity.