An Indicator Variable Is a Variable That Can Assume

question 128

Multiple Choice

An indicator variable is a variable that can assume:

• A)one of two values (usually 0 and 1).
• B)one of three values (usually 0,1,and 2).
• C)any number of values.
• D)None of these choices.

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Definitions:

Income Statement

A report detailing a business's income, expenditures, and net earnings or losses for a given time frame.

Adjusted Trial Balance

is a list of all accounts and their balances after making adjustments, used to verify the equality of debits and credits.

Net Income

The income a company retains following the subtraction of all costs and taxes from its total revenue.

Income Statement

A financial statement that shows a company’s revenues and expenses over a specific period, ending with net income or loss.