Nominal Data Represent the Labels of Multiple Classes Used to Divide

question 4

True/False

Nominal data represent the labels of multiple classes used to divide a variable into specific groups.

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Definitions:

Asset

An economic resource owned or controlled by an individual or entity that is expected to produce future benefits.

Service Revenue

Income earned by a company for the services it has provided to its customers.

Bank Loan Payable

Bank Loan Payable is the amount owed by a borrower to a bank, typically represented as a liability on the borrower's balance sheet.