When the Data Have the Properties of Interval Data and the Ratio

question 15

Multiple Choice

When the data have the properties of interval data and the ratio of two values is meaningful, the variable has which scale of measurement?

• A)nominal
• B)ordinal
• C)interval
• D)ratio

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Definitions:

Accumulated Depreciation

The cumulative depreciation of an asset up to a single point in its life, reflecting its loss of value over time.

Withdrawals Account

An account used to record the amounts taken out of a business by its owner(s) for personal use.

Capital Balance

The amount of money invested in a company by its owners or shareholders, represented in the equity section of the balance sheet.

Accounting Period

The span of time at the end of which a company's financial performance is measured and reported.