Facts and Figures Obtained by Watching, Either Mechanically or in Person

question 236

Multiple Choice

Facts and figures obtained by watching, either mechanically or in person, how people actually behave are referred to as ________ data.

• A) inspection
• B) hypothetical
• C) primary source
• D) observational
• E) eyewitness

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Definitions:

Receivables Period

The average time a business spends waiting for its customers to settle their dues.

Credit Sales

Sales for which payment is not received immediately, but the buyer is extended credit to pay at a later date, affecting a company's cash flow and revenue recognition.

COGS

Cost of Goods Sold, which refers to the direct costs attributable to the production of the goods sold by a company.

Effective Annual Interest Rate

The actual return on an investment or the real cost of a loan, accounting for the compounding of interest over a year.