Carey Company Buys Land for €50,000 on 12/31/13

question 126

Multiple Choice

Carey Company buys land for €50,000 on 12/31/13. As of 3/31/14, the land has appreciated in value to €50,700. On 12/31/14, the land has an appraised value of €51,600. By what amount should the Land account be increased in 2014?

• A) €0
• B) €700
• C) €900
• D) €1,600

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Definitions:

Proportion Difference

A measure of the difference in proportions or percentages between two groups in comparative studies.

Pooled Proportion

The weighted average of proportions from different samples or groups, used in statistical analysis.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, often tested against an alternative hypothesis in statistical analyses.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, based on a specified confidence level.