Conditions Favoring the Choice of Using a Sample Over a Census

question 9

Multiple Choice

Conditions favoring the choice of using a sample over a census include all of the following EXCEPT:

• A) small budget.
• B) time available is short.
• C) population size is large.
• D) variance in the characteristic of interest is low.
• E) cost of sampling error is high.

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Definitions:

Work in Process

Items that are in the process of being manufactured but are not yet complete.

Work in Process

Also known as work in progress, it denotes the cost of unfinished goods in manufacturing at any given time.

Direct Labour Cost

The wages paid to workers who are directly involved in the manufacturing or production process.

Direct Materials Cost

Direct materials cost refers to the expenditure on the raw materials that are directly identifiable and allocable to the production of a product.