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Use the range rule of thumb to estimate the standard deviation. Round results to the nearest tenth.
-The race speeds for the top eight cars in a 200-mile race are listed below.
Utilities Expense
Costs incurred by a business for basic services such as electricity, water, and gas, classified under operating expenses in the income statement.
Owner's Drawings
Funds taken out of a business by the owner in a sole proprietorship or partnership for individual purposes.
Capital Account
An account showing the net worth of a business at a specific point in time, comprised of the owner's equity, investments, and retained earnings.
Correcting Entry
A journal entry made to amend a previously recorded incorrect transaction in the financial records.
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