Which of the following statements about the income statement is false? a. the single-step format groups all income items together, and then deducts all cost categories from the income. b. discontinued operations and extraordinary transactions only appear on the multiple-step format of the income statement c. a common size income statement expresses each account item as a percentage of net sales d. the multiple-step format provides certain profit measures that are not included in the single-step format

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

Which of the following would cause a shift to the right of the supply curve for gasoline? i. a large increase in the price of public transportation. ii. a large decrease in the price of automobiles. iii. a large reduction in the costs of producing gasoline

Decision alternatives should be identified before decision criteria are established. are limited to quantitative solutions are evaluated as a part of the problem definition stage. are best generated by brain-storming.