The Finite Population Correction Factor, ,Should Generally Be Used

question 6

Multiple Choice

The finite population correction factor, ,should generally be used when

• A)N is any finite size.
• B)n is less than 5% of the population size N.
• C)n is greater than 5% of the population size N.
• D)n is any finite size.

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Definitions:

Deposits In Transit

Funds that have been sent to a bank but not yet recorded in the bank's records, typically due to timing differences.

Bank Statement

A document issued by a bank to its customer listing transactions, including deposits, withdrawals, and fees over a specific period, usually monthly.

Outstanding Checks

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

Deposit In Transit

Refers to money that has been received and recorded by a business but has not yet been recorded by the bank.