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Types of Variables

**Quantitative variables**: variables which can be measured numerically. Examples is Number of books, process of houses and number of students.

Quantitative variables can be classified as shown below

a. ** Discrete Variables** are variables whose values are countable

Discrete variables take non-negative and no decimal values. To get the value of this variable, we normally use counting number or whole number i.e. 0,1,2,….

b. *Continuous Variables*** **are variables that can assume all numbers within a certain interval or intervals. Examples is the height of the students. We can assume any values from 1 to 7 ft, including decimals.

**Qualitative variables** are variables which cannot be measured numerically. Examples: colour of cars, types of food and students’ grade for Semester 1.

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## Taxation

Result of the legal separation of the limited company from its owners is that companies have to be responsible to the tax authorities for tax on their profits and gains.