Which of the Following Is the True Statement

question 32

Multiple Choice

Which of the following is the true statement?

• A) Accounting information for decision making is concerned with the past.
• B) Internal and external users of accounting information generally require similar information.
• C) Non-accounting information is always more important in decision making than accounting information.
• D) Accountants are heavily involved in the budgeting process for a business entity.

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Definitions:

Ordinal Random Variable

A random variable that has outcomes which can be ordered or ranked but does not necessarily have a quantitative value.

Nominal Random Variable

A variable that represents data which can be classified into distinct categories with no logical order.

Nominal Data

Data classified into categories that cannot be ordered or ranked; purely qualitative.

Interval Data

A type of data measurement where the intervals between values are meaningful, allowing for arithmetic operations to be performed.