Economic Variables Whose Values Are Measured in Monetary Units Are

question 148

Multiple Choice

Economic variables whose values are measured in monetary units are called

• A)dichotomous variables.
• B)nominal variables.
• C)classical variables.
• D)real variables.

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Definitions:

Net Method

An accounting method that records the net of discounts or expenses directly on invoices at the time of purchase or sale.

Selling Price

The price at which a product or service is sold to customers, reflecting the cost plus any added profit margin.

Acquisition Differential

This refers to the difference between the purchase price of a company and the fair value of its identifiable net assets.

Straight Line Amortization

A method of gradually writing off the initial cost of an asset over its useful life in equal installments.