An Adjusting Entry Should Never Include

question 119

Multiple Choice

An adjusting entry should never include

• A) a debit to an expense account and a credit to a liability account.
• B) a debit to an expense account and a credit to a revenue account.
• C) a debit to a liability account and a credit to revenue account.
• D) a debit to a revenue account and a credit to a liability account.

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Definitions:

Population Mean

The average value of all the elements in a population, representing the expected value of a given population parameter.

Critical Value

A threshold value that defines the cutoff points in a statistical test which discriminates between the null hypothesis and the alternative hypothesis.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values.

Confidence Interval

A range of data figures, acquired from sample analysis, predicted to include the value of an unacknowledged population characteristic.