Which Statement Is True

question 84

Multiple Choice

Which statement is true?

• A)All purchases should be recorded in a purchases journal.
• B)Closing and reversing entries will be found in the sales journal.
• C)Returned merchandise from a customer should be entered in the sales journal.
• D)All cash sales should be recorded in the cash receipts journal.

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Definitions:

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of the numbers in the set.

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent states under a given number of trials.

Without Replacement

A sampling method where each selected unit or item is not returned to the pool of potential selections for subsequent draws.

Finite Population

A set of elements or observations that is fixed and countable, often contrasted with an infinite population in statistical analysis.