When the Sample Size Is 10 Percent or More of the Population

question 70

True/False

When the sample size is 10 percent or more of the population size,the standard error formulas will overestimate the standard deviation of the population mean or proportion.Hence,these should be adjusted by a finite population correction factor.

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Definitions:

Adjusting Entry

A financial record created at the close of an accounting period to assign earnings and expenses to the time they truly took place.

Interest Receivable

This represents the amount of interest income that has been earned but not yet received in cash by the company.

Adjusting Entry

Accounting records created at the closing of an accounting cycle to distribute revenues and costs to the period they truly belong.

Interest Revenue

Income earned by an entity from lending money or from investments in interest-bearing assets like bonds, savings accounts, or loans.