If the Opening Balance of Rent Accrued at the Beginning

question 48

Multiple Choice

If the opening balance of rent accrued at the beginning of the year was $1,000, rent expense for the year was $20,000 and the closing balance of rent accrued at the end of the year was $1,200, the amount paid in cash for rent during the year is:

• A) $22,200
• B) $19,800
• C) $21,000
• D) $20,200

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Definitions:

Standard Deviation

A statistic that measures the dispersion or variability of a dataset relative to its mean.

Raw Score

An original, unmodified score obtained in a measurement or test.

Normal Curve

Another term for a normal distribution, characterized by its bell-shaped curve where most observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.

Mean

The arithmetic average of a set of values, found by dividing the sum of all values by the number of values.