The BEST Way to Select a Random Sample of 10

question 201

Multiple Choice

The BEST way to select a random sample of 10 students from a class would be to:

• A) choose the first 10 who enter the classroom.
• B) choose the last 10 who leave the classroom.
• C) write each student's name on a piece of paper, put the papers in a pile, close eyes, and pick 10 papers.
• D) ask students their ethnicity, grade-point average, and academic major, and then be sure the sample reflects all of these student characteristics.

---

Definitions:

Debit Balance

A debit balance is an accounting entry that occurs on the left side of the ledger and indicates the amount of money owed or an increase in assets or expenses.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues, indicating the company's profitability.

Post-closing Trial Balance

A financial statement prepared after closing entries are made, showing the balances of all ledger accounts at the end of an accounting period.

Permanent Accounts

Accounts that carry their ending balances over to the next accounting period and are not closed at the end of the financial year.