Which of the Following Statements Is Correct

question 130

Multiple Choice

Which of the following statements is correct?

• A)The value of the independent variable is determined by the value of the dependent variable.
• B)The value of the dependent variable is determined by the value of the independent variable.
• C)The dependent variable designates the "cause" and the independent variable the "effect."
• D)Dependent variables graph as upsloping lines; independent variables graph as downward sloping lines.

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Definitions:

Net Realizable Value

The estimated selling price of goods minus the cost of their sale or completion.

Sales Price

The amount a buyer pays to purchase a product or service.

Expense Recognition Principle

An accounting principle that dictates expenses should be recognized in the same period as the revenues they help to generate.

Physical Count

A manual inventory verification process where actual items are counted to ensure records match.