Which One of the Following Accounts Is Least Likely to Vary

question 6

Multiple Choice

Which one of the following accounts is least likely to vary directly with the level of sales?

• A)accounts payable
• B)inventory
• C)cost of goods sold
• D)interest expense
• E)accounts receivable

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Definitions:

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists within a set of given observations or parameters.

Level of Significance

The probability of rejecting the null hypothesis when it is actually true, typically denoted as alpha (α).

Contingency Table

A tabular method for displaying the frequencies of different outcomes in a sample, allowing for analysis of the association between categorical variables.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists between certain characteristics of a population or dataset.