The Balance Column in a Ledger Account Is

question 111

Multiple Choice

The balance column in a ledger account is:

• A)An account entered on the balance sheet.
• B)A column for showing the balance of the account after each entry is posted.
• C)Another name for the withdrawals account.
• D)An account used to record the transfers of assets from a business to its owner.
• E)A simple form of account that is widely used in accounting to illustrate the debits and credits required in recording a transaction.

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Definitions:

Type I Error

The incorrect rejection of a true null hypothesis, also known as a "false positive" finding.

Type II Error

The error made by failing to reject a false null hypothesis, often denoted as a false negative in hypothesis testing.

Average Cost

The total cost divided by the number of goods or services produced. It represents the per unit cost of production or operation.

Standard Error

The standard deviation of the sampling distribution of a statistic, often used to measure the accuracy of sample estimates of population parameters.