Question 1

Data with an equal and definitive interval between each data point and absolute "zero" in the point of origin measuring transactions amounts for revenues and expenses would be considered __________.
A) ratio data
B) counting data
C) categorical data
D) ordinal data

Accepted Answer

Ratio data is characterized by having an absolute zero point and equal intervals between data points, which is suitable for measuring quantities like revenue and expenses.

Question 2

Data measuring transactions amounts for revenues and expenses would be considered __________.
A) nominal data
B) numeric data
C) categorical data
D) ordinal data

Accepted Answer

Transaction amounts for revenues and expenses are measured in numbers, making them numeric data.

Quiz 3: Accounting Data Data Types and How They Are Used

Data with an equal and definitive interval between each data point and absolute "zero" in the point of origin measuring transactions amounts for revenues and expenses would be considered __________.

Data measuring transactions amounts for revenues and expenses would be considered __________.