Examlex
IQ scores are normally distributed with a mean of 100 and a standard deviation of 15.Based on properties of the mathematical normal curve,which one of the following statements is TRUE?
Sale Occurs
The event in which goods or services are transferred from a seller to a buyer for monetary consideration.
Sales Return
Transactions that involve the returning of sold goods by customers, resulting in a reduction of revenue.
Credits
Credits are accounting entries that increase liabilities or equity accounts, or decrease asset or expense accounts.
Sales Returns And Allowances
Purchase returns and allowances from the seller’s perspective. See Purchase return and Purchase allowance, above.
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