Which of the Following Is True About Sampling Errors

question 28

Multiple Choice

Which of the following is True about sampling errors?

• A) They are caused by the size of the sample.
• B) They can be reduced by decreasing the sample volume.
• C) They cannot be measured statistically.
• D) They cannot be measured directly.
• E) They occur when the findings based on the sample and the True values for a population overlap.

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Definitions:

Accounting

The systematic process of recording, summarizing, and analyzing an organization's financial transactions.

GAAP

Generally Accepted Accounting Principles; the common set of accounting standards and procedures used in the U.S.

Accrual Basis

The accrual basis of accounting records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.

Cash Basis

An accounting method where revenues are recognized when cash is received, and expenses are recorded when cash is paid.