Stratified Random Samples Are Often Confused with Which of the Following

question 6

Multiple Choice

Stratified random samples are often confused with which of the following nonprobability sampling techniques?

• A)quota
• B)convenience
• C)judgment
• D)snowball
• E)none of these

Understand keyboard shortcuts and their applications in Excel for efficiency.

Understand and describe the principles of internal control systems and their importance in business operations.

Identify and explain various types of internal controls and their specific applications within cash management.

Explain the limitations of internal control systems, including human error and fraud.

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Definitions:

Contribution Margin Ratio

A measurement that shows the percentage of sales revenue that exceeds variable costs, indicating how much contributes to fixed costs and profits.

Fixed Costs

Regular costs that do not vary with the scale of production or sales activities, encompassing rent, salary disbursements, and insurance contributions.

Target Net Income

The desired profit that a company aims to achieve within a specific period, often used in budgeting and planning.

Required Sales

Required sales represent the amount of sales needed to achieve a particular financial target, such as breaking even or reaching a desired profit level.