Which of the Following Primary Scales of Measurement Is Used

question 41

Multiple Choice

Which of the following primary scales of measurement is used only for classification purposes?

• A) ordinal scales
• B) ratio scales
• C) nominal scales
• D) interval scales
• E) random scales

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Definitions:

Fixed Costs

Expenses that do not change in proportion to the activity of a business.

Finished Goods Inventory

The direct materials costs, direct labor costs, and factory overhead costs of finished products that have not been sold.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and overhead expenses.

Cost of Goods Manufactured

The total cost of all materials, labor, and manufacturing overhead used in producing finished goods over a specific period.