What is meant by "common language"? How does common language help professionals manage quantities of data efficiently?
Fractions, ratios, and percentages are examples of common language.In effect, common language reduces difficult figures to the "common denominators" of language and ideas.Although "218 of 400 expect to travel to Alaska in the future" is somewhat easy to understand, "54.4% prefer . . ." is even easier, and "one out of two indicate a preference for traveling to Alaska" is even more understandable.
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The following balance sheet information was provided by O'Connor Company:Assets Year 2 Year 1 Cash$4,000 $2,000 Accounts receivable 15,000 12,000 Inventory$35,000 $38,000 Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?
A. 7.7 times B. 18 times C. 22.5 times D. 20 times
The procedure for formal rulemaking provides for ________
A) an agency notice of proposed rulemaking to the public in the Federal Register B) an opportunity for all interested parties to submit written comments to the agency C) a hearing at which experts give their opinions on a rule proposed by the agency D) the appointment of counsel for persons unable to afford representation at the formal hearing
The type of loss covered by a marine insurance policy when cargo is damaged, destroyed, or sacrificed in the process of saving the vessel or the cargo of others is a: A) general average loss
B) weighted average loss. C) partial or particular average loss. D) rescued loss.
The percentage change in quantity demanded relative to the percentage change in price is referred to as
A. marginal revenue. B. derived demand. C. average demand. D. price elasticity of demand. E. demand derivative of price.