There are two main types of variables: categorical and continuous. Categorical variables are those that have discrete categories or levels. Categorical variables can be further defined as nominal, dichotomous, or ordinal. Nominal variables describe categories that do not have a specific order to them. What type of data is ordinalRead More →
Dichotomous variables are categorical variables with two levels. These could include yes/no, high/low, or male/female. To remember this, think di = two. Ordinal variables have two are more categories that can be ordered or ranked. Can a binary variable be ordinal? Binary data is discrete data that can be inRead More →
Answer: according to the golden rule under nominal account any kinds of expenses or losses are debit. depreciation is an expenses , so depreciation account will be debited and under Real Account All assets goes out ,must be credited. What type of account is depreciation equipment? Accumulated depreciation is aRead More →
Consignment sales are a trade agreement in which one party (the consignor) provides goodsCost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is a term used in managerial accounting that refers to a schedule or statement that shows the total to another party (the consignee) to sell. What is consignedRead More →