The Term Norms Refers to the

question 61

Multiple Choice

The term norms refers to the

• A) average score of all test-takers within a standardization sample.
• B) the typical performance of the norm group.
• C) scores with which the results of subsequent measurement can be compared.
• D) transformed scores used to create and improve test items.

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Definitions:

Generally Accepted Accounting Principles

A set of rules and standards for financial reporting that companies in the U.S. must adhere to.

Gross Profit

The financial gain made after deducting the cost of goods sold from total revenue.

Variance

The difference between planned or budgeted amounts and the actual amounts incurred, used for performance evaluation and control.

Actual Costs

The true expenses incurred in the production of a product or the provision of a service, as opposed to estimated or budgeted costs.