The data measured on ordinal scale exhibits all the properties of data measured on
a. ratio scale.
b. interval scale.
c. nominal scale.
d. nominal and interval scales.
c
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Market-tracking studies measure some variable(s) of interest, that is, market share or unit sales over time
Indicate whether the statement is true or false
In recording the cost of merchandise sold for cash, based on data available from perpetual inventory records, the journal entry is
A) debit Cost of Merchandise Sold; credit Sales B) debit Cost of Merchandise Sold; credit Merchandise Inventory C) debit Merchandise Inventory; credit Cost of Merchandise Sold D) debit Accounts Receivable; credit Merchandise Inventory
The amount of depreciation expense for the first full year of use of a fixed asset costing $95,000, with an estimated residual value of $5,000 and a useful life of 5 years, is $19,000 by the straight-line method
Indicate whether the statement is true or false
Which one of the following is involved in studying C-V-P relationships
a. Product mix b. Variable cost c. Fixed cost. d. All of the above.