The Error That Occurs Because a Sample, and Not the Entire

question 38

Multiple Choice

The error that occurs because a sample, and not the entire population, is used to estimate a population parameter is a _____ error.

• A) nonsampling
• B) sampling
• C) judgment
• D) standard

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Definitions:

Account Number

A unique sequence of numbers assigned to a customer's account in a bank or financial institution, facilitating the management and identification of accounts.

Ledger

A comprehensive collection of a company's financial accounts, used for recording all financial transactions.

Debits

Entries on the left side of an account ledger, indicating an increase in assets or decrease in liabilities and equity.

Credits

Entries in accounting that increase liabilities, revenue, or equity accounts, or decrease asset or expense accounts, reflecting a gain in financial statements.