Which Is Not a Likely Area of Application of Statistics

question 3

Multiple Choice

Which is not a likely area of application of statistics in business?

• A)Auditing supplier invoices for correct payment
• B)Questioning the executives' strategic decisions
• C)Looking for patterns in a large marketing database
• D)Making forecasts of several key product lines

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Definitions:

Unusual Items

Financial events that are not typical for the normal business operations and are unlikely to recur, affecting a company's financial statements.

Accounting Principles

Fundamental guidelines or rules that underpin the process of accounting, including concepts like the matching principle, revenue recognition, and historical cost.

Short-term Creditors

Lenders or entities from whom a company has borrowed money or resources that are to be repaid within one year.

Liquidity

The ability of an asset to be quickly converted into cash or an entity's capacity to meet its immediate and short-term obligations.