Which Statement Is TRUE

question 123

Multiple Choice

Which statement is TRUE?

• A)Most businesses use the periodic inventory system.
• B)The excess of sales revenue over cost of goods sold is called gross profit because operating expenses have not yet been subtracted.
• C)Most companies use the specific identification method.
• D)Most companies in the United States follow International Financial Reporting Standards.

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Definitions:

Regression Analysis

A numerical approach for analyzing the correlation between a dependent variable and one or more independent variables.

Descriptive Statistics

Statistics that summarize or describe the characteristics of a data set, including measures like mean, median, mode, and standard deviation.

Standard Error

The standard deviation of the sampling distribution of a statistic, commonly the mean, providing a measure of the precision of the estimated mean.

Independent Variables

Independent variables are the variables in an experiment or analysis that are manipulated or categorized to investigate their effect on dependent variables.