The Most Likely Reference Group for a First-Year Medical Student

question 52

Multiple Choice

The most likely reference group for a first-year medical student would be

• A)first-year medical students.
• B)medical interns.
• C)first-year medical residents.
• D)newly board-certified doctors in the specialty that interests that student.

---

Definitions:

Normal Balance

The side of an account on which increases are recorded, typically the debit side for assets and expenses, and the credit side for liabilities, equity, and revenue.

Account Nature

The characteristic of an account that classifies it as an asset, liability, equity, revenue, or expense.

Periodic Inventory Method

An accounting method where inventory and cost of goods sold are calculated at set intervals, such as yearly or quarterly.

Promissory Note

A formal written promise by a borrower to pay a certain sum at a fixed future date.