Categorical Data

question 56

Multiple Choice

Categorical data

• A) indicate either how much or how many.
• B) cannot be numeric
• C) are labels used to identify attributes of elements.
• D) must be nonnumeric.

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Definitions:

Assets

Economic resources owned or controlled by a business or individual, expected to bring future benefits.

Expenses

The costs incurred in the process of generating revenues, including costs like rent, salaries, and utilities.

Revenues

The gross revenue stemming from the primary operational activities of a firm, particularly from selling products or services.

Supplies

Items that are used in the day-to-day operation of a business but do not directly become part of the finished product.