Since an Error in the Period-End Inventory Causes an Offsetting

question 76

Multiple Choice

Since an error in the period-end inventory causes an offsetting error in the next period:

• A)Managers can ignore the error.
• B)It is said to be self-correcting.
• C)It affects only income statement accounts.
• D)If affects only balance sheet accounts.
• E)Is immaterial for managerial decision making.

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Definitions:

Experimental Manipulation

The deliberate alteration of the independent variable in an experiment in order to learn about its effects on the dependent variable.

Control Groups

In experimental research, a group of subjects that does not receive the treatment being tested and is used as a benchmark to measure how the other tested subjects respond.

Population

The whole number of people or inhabitants in a country or region.

Sample

The subset of the population that the investigator studies in order to learn about the population at large.