A Marketing Research Firm Selects a Random Sample of Adults

question 32

Multiple Choice

A marketing research firm selects a random sample of adults and asks them a list of questions regarding their beverage preferences. What type of data collection is involved here?

• A)An experiment.
• B)A survey.
• C)Direct observation.
• D)None of these choices.

---

Definitions:

Salaries Expense

The total amount paid to employees for services rendered during a specific period, recorded as an expense on the income statement.

Accounts Payable

Money owed by a company to its suppliers or vendors for goods and services purchased on credit.

Correcting Entry

A bookkeeping record created to rectify a mistake in the financial reports.

Classified Balance Sheet

A financial statement that organizes assets, liabilities, and equity into subcategories for clearer understanding and analysis.