The Balance in the Supplies Account on June 1 Was

question 30

Multiple Choice

The balance in the supplies account on June 1 was $5,200, supplies purchased during June were $3,500, and the supplies on hand at June 30 were $2,000. The amount to be used for the appropriate adjusting entry is

• A) $5,500.
• B) $3,500.
• C) $10,700.
• D) $6,700.

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Definitions:

Level of Significance

The threshold below which a p-value must fall for an effect to be considered statistically significant, often set at 0.05 or 5%.

Populations

The entire group of individuals or items that is the subject of a statistical analysis.

Fisher's LSD

Stands for Fisher's Least Significant Difference, a post-hoc test used in ANOVA to identify specific differences between pairs of means when the null hypothesis is rejected.

ANOVA Table

A table that summarizes the results and components of variance from an analysis of variance test.