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Explanatory Research Is

question 51

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Explanatory research is

Identify and decide when to use parameters versus statistics.
Understand the impact of sample size on statistical measures.
Recognize calculations errors specifically with variance and standard deviation.
Understand the effect of outliers on statistical measurements.

Definitions:

Pre-Reconciliation Cash Balance

The cash balance reported in accounting records before adjustments are made for reconciling items in a bank reconciliation.

Outstanding Checks

Checks that have been written and recorded in a company's financial ledger but have not yet been cashed or cleared by the bank.

Deposits in Transit

Funds that have been deposited by a company but not yet recorded by the bank, often causing a discrepancy in the bank statement versus the company’s record.

Contra-Revenue Account

An account that is deducted from a company's gross revenue, which results in net revenue, examples include sales returns, allowances, and discounts.

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