Response order bias can be reduced using all of the following methods, EXCEPT:
a. online surveys.
b. mail surveys.
c. self-administered surveys.
d. phone surveys.
e. preparing several different forms of the questionnaire using a different order and averaging the responses
Answer: e. preparing several different forms of the questionnaire using a different order and averaging the responses
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What is the present value of a $1,000 payment at the end of each of the next 10 years discounted back to the present at 5%?
A) $5,098 B) $7,722 C) $8,775 D) $9,112
Which of the following is a difference between personal financial statements and business financial statements?
A) Personal financial statements follow the cost principle, whereas business financial statements do not follow the cost principle. B) Personal financial statements should present assets at estimated current values, whereas business financial statements should present assets at historical cost. C) Personal financial statements are not governed by GAAP, whereas business financial statements are governed by GAAP. D) Personal financial statements are prepared for a specific period of time, whereas business financial statements are prepared for a general period.