A List of All Members of the Population from Which

question 15

True/False

A list of all members of the population from which we can choose a sample is called a frame,and the potential sample members are called sampling units.

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Definitions:

Percent Of Cash Discount

The percentage reduction in price offered for prompt payment of invoices to encourage early settlement of accounts payable.

Normal Credit Balance

The expected or usual balance of a specific account, where liability, equity, and revenue accounts typically have credit balances.

Perpetual Inventory System

An inventory management method where inventory quantities and costs are updated continuously with each sale or purchase.

Accounts Payable

Liabilities of a business that are owed to creditors for goods and services purchased on credit.