​When the Null Hypothesis Is Not Rejected, It Is​

question 44

Multiple Choice

​When the null hypothesis is not rejected, it is​

• A) possible a Type I error has occurred.
• B) possible a Type II error has occurred.
• C) not possible a Type II error has occurred.
• D) ​possible either a Type I or a Type II error has occurred.

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Definitions:

Financial Statement

An official document detailing the financial transactions and status of a company, person, or different entity.

Normal Balance

The side (debit or credit) of an account that is normally increased. For assets and expenses, it is the debit side; for liabilities, equity, and revenue, it is the credit side.

Account Nature

Refers to the intrinsic characteristics of an account that determine how transactions are recorded and classified, such as whether it is an asset, liability, revenue, or expense account.

Financial Statement

Reports that quantify the financial strength, performance, and liquidity of a company during a specific period.