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TABLE 8-14
A poll was conducted by the marketing department of a video game company to determine the popularity of a new game that was targeted to be launched in three months. Telephone interviews with 1,500 young adults were conducted which revealed that 49% said they would purchase the new game. The margin of error was ±3 percentage points.
-Referring to Table 8-14, the sampling error is 3%.
Weekly Salaries
Regular payments made by an employer to its employees, usually based on hours worked, calculated on a weekly basis.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the appropriate period for a correct financial picture.
Prepaid Insurance
Payments made in advance for insurance coverage, which are recorded as an asset and expensed over the period of coverage.
Adjusting Entry
An accounting record made to update the balances of accounts to reflect the true financial position before preparing financial statements.
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