In Order Not to Violate the Requirements Necessary to Use

question 29

Multiple Choice

In order not to violate the requirements necessary to use the chi-square distribution, each expected frequency in a goodness of fit test must be

• A)at least 5
• B)at least 10
• C)no more than 5
• D)less than 2

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Definitions:

Expenses

Outflows of resources or incurrences of liabilities that result in a decrease in the equity of a company, other than distributions to owners.

Accounts Receivable

Money owed to a company by its customers for goods or services provided on credit.

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts to check the arithmetic accuracy of the accounts.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.