Binary Variables Are

question 29

Multiple Choice

Binary variables are

• A) 0 or 1 only.
• B) any integer value.
• C) any continuous value.
• D) any negative integer value.

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Definitions:

Net Loss

The amount by which total expenses exceed total revenues in a business, indicating a negative financial performance over a specific period.

Income Statement Columns

This refers to the structured segments in an income statement or profit and loss account, showing revenues, expenses, and profits or losses of an entity over a specific period.

Debit Column

is a section in accounting records where increases in asset and expense accounts or decreases in liability, equity, and revenue accounts are entered.

Credit Column

The column in an accounting ledger where credit transactions are recorded, reflecting increases in liabilities, equity, or revenue, or decreases in assets or expenses.