There Are Two Methods Used to Account for Transactions

question 101

Multiple Choice

There are two methods used to account for transactions. These methods are:

• A)accrual and deferral.
• B)cash and accrual.
• C)cash and deferral.
• D)deferral and prepaid.

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Definitions:

Pareto Distribution

A probability distribution used to describe phenomena in the natural and social sciences where a small proportion of occurrences leads to a large proportion of outcomes.

Lognormal Distribution

A continuous probability distribution of a random variable whose logarithm is normally distributed.

Joint Probability Distribution

A statistical measure that gives the likelihood of two or more events occurring simultaneously and the relationship between them.

Random Variables

A mathematical representation of a quantitative variable whose value depends on outcomes of a random phenomenon.