Which Statement Is Incorrect

question 118

Multiple Choice

Which statement is incorrect?

• A) A chart of accounts is a listing of accounts used by a business.
• B) New accounts can be added to the chart of accounts.
• C) Stockholders' Equity is an account that is included in the chart of accounts.
• D) Account titles for the chart of accounts are used in general journal entries.

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Definitions:

Population

The entirety of individuals or items under consideration for a statistical analysis or survey.

Parameter

A characteristic or measure that summarizes an aspect of a population or system, often used in statistical or mathematical models.

Descriptive Measure

Refers to statistics that summarize or describe the important characteristics of a data set, including measures like mean, median, and standard deviation.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.