Selecting the First Five Sales Orders Processed Each Month for Examination

question 72

Multiple Choice

Selecting the first five sales orders processed each month for examination is an example of which of the following types of selection method?

• A)Unrestricted random selection
• B)Systematic random selection
• C)Haphazard selection
• D)Block selection

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Definitions:

Net Income

The final amount of money a company makes after taking away all expenses, including taxes and the costs of operation, from the total income.

Owner Drawings

Amounts withdrawn by the owner of a business for personal use, reducing the owner's equity in the business.

Revenues

The income earned from normal business operations and includes discounts and deductions for returned merchandise.

Expenses

Expenses refer to the outflow of money to another person or company to pay for an item or service, or for costs necessary to operate a business.