Which of the Following Is Not True

question 35

Multiple Choice

Which of the following is not true?

• A)Categorical data have values that are described by words rather than numbers.
• B)Categorical data are also referred to as nominal or qualitative data.
• C)The number of checks processed at a bank in a day is categorical data.
• D)Numerical data can be either discrete or continuous.

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Definitions:

Income Statement

The income statement is a financial report that shows a company's revenues, expenses, and profits over a specific period, highlighting its financial performance.

Contribution Format

An income statement format that separates fixed and variable costs, highlighting the contribution margin of a company's products or services.

Segmented Statements

Financial reports that break down the revenue, costs, and profitability of different parts of a company, such as departments or product lines.

Variable Costing

Variable costing is a costing method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in unit product costs.