The Chart of Accounts for Corning Company Includes the Following

question 214

Multiple Choice

The chart of accounts for Corning Company includes the following:
$$\begin{array} { | l | c | } \hline{ \text { Account Name } } & \text { Account Number } \\\hline \text { Cash } & 11 \\\hline \text { Accounts Receivable } & 13 \\\hline \text { Prepaid Insurance } & 15 \\\hline \text { Accounts Payable } & 21 \\\hline \text { Unearned Revenue } & 24 \\\hline \text { Corning Capital } & 31 \\\hline \text { Corning Drawing } & 32 \\\hline \text { Fees Earned } & 41 \\\hline \text { Salaries Expense } & 54 \\\hline \text { Rent Expense } & 56 \\\hline\end{array}$$ ?
Page 3 of the journal contains the following entry:
Prepaid Insurance........1,530
Cash.............................1,530
-What is the posting reference that will be found in the cash account?

• A) 11
• B) 15
• C) 3
• D) 13

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Definitions:

MPG

Miles per gallon, a measure of fuel efficiency in vehicles.

Matched Samples

A study design where subjects are paired based on certain characteristics to ensure comparability between treatment groups.

Independent Samples

Two or more sets of data that are collected independently of each other, not affecting one another.

Confidence Interval

A range of values, derived from sample statistics, that is believed to contain the true value of a population parameter with a certain level of confidence.