Choose the Item That Best Matches Each Item of the Following

question 3

Multiple Choice

Choose the item that best matches each item of the following:
-Organizes data into mutually exclusive categories that are rank-ordered based on some criterion

• A)Scales of measurement
• B)Ordinal scale
• C)Discrete variable
• D)Continuous variable
• E)Nominal scale

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Definitions:

Credit Sales

Sales made by a business where the customer is allowed to pay at a later date.

Bad Debt Expense

A charge to the income statement for accounts receivable that a company has determined it will not collect.

Adjusting Entry

An entry made in the books of accounts at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Credit Sales

Transactions involving the transfer of goods or services to a customer with the agreement that payment will be made at a later date.