Since the Population Is Always Larger Than the Sample, the Population

question 34

Multiple Choice

Since the population is always larger than the sample, the population mean:

• A) is always larger than the sample mean
• B) is always smaller than the sample mean
• C) is always larger than or equal to the sample mean
• D) can be smaller than, or larger than, or equal to the sample mean
• E) is always smaller than or equal to the sample mean

Record transactions accurately using the voucher system under both the periodic inventory system and the gross method.

Comprehend the process for handling purchase returns and allowances in the voucher system.

Understand the accounting treatment for cash discounts under both the net and gross methods within the voucher system.

Identify the proper filing and documentation procedures for vouchers.