Forecast Error

question 19

Multiple Choice

Forecast error

• A)takes a positive value when the forecast is too high.
• B)cannot be negative.
• C)cannot be zero.
• D)is associated with measuring forecast accuracy.

Understand the process of closing the dividend account and its impact on the retained earnings.

Understand the process and purpose of preparing an adjusted trial balance.

Identify the role and composition of a worksheet in accounting.

Know how to close accounts, including income summary and dividends, at the end of the fiscal year.

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Definitions:

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis, asserting that there is a statistically significant relationship between variables.

Non-directional

Refers to a type of hypothesis that does not predict the direction of the difference or relationship between variables.

Alternative Hypothesis

In hypothesis testing, the hypothesis that contradicts the null hypothesis, suggesting some effect or difference exists.

Non-directional

Pertains to hypotheses or tests that do not specify the direction of the expected differences or relationships.