Sarah Has Collected Data on the Salaries of Part-Time Third-Year

question 36

Multiple Choice

Sarah has collected data on the salaries of part-time third-year accounting students.Which of these measurement scales would her data be measured on?

• A)Nominal
• B)Ordinal
• C)Interval
• D)Ratio

Grasp the principles and application of the perpetual inventory system including journal entries for purchases, returns, and payments.

Comprehend the structure and components of a multiple-step income statement.

Calculate discounts and understand their effect on cash payments and purchase entries.

Recognize and record sales returns and allowances.

---

Definitions:

Tax Cost

The economic expense associated with the imposition of taxes, including the burden on consumers or producers.

Resources Allocation

It involves distributing available resources among various competing needs or projects in order to achieve desired objectives or optimize outcomes.

Paradox of Voting

The situation where the cost of voting (time, effort) exceeds the apparent personal benefits, yet people still vote.

Majority Voting

A decision-making process where the option that receives more than half of the votes is chosen.