Which of the Following Is True

question 7

Multiple Choice

Which of the following is true?

• A)The type of charge card used by a customer (Visa, MasterCard, AmEx) is ordinal data.
• B)The duration (minutes) of a flight from Boston to Minneapolis is ratio data.
• C)The number of Nobel Prize-winning faculty at Oxnard University is continuous data.
• D)The number of regional warehouses owned by Jankord Industries is ordinal data.

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Definitions:

FOB Destination

A shipping term indicating that the seller retains ownership and responsibility over the goods until they are delivered to the buyer's location, at which point the buyer takes over.

Ending Inventory Balance

The value of all the unsold goods that a company has in its possession at the end of an accounting period.

Goods In Transit

Items that have been shipped by a seller but have not yet been received by the purchaser, often included in accounting considerations for inventory management.

Inventory Valuation

The method used to assign a monetary value to inventory, including FIFO, LIFO, and weighted average cost methods.