On November 1, Greenfield Corporation Borrowed $55,000 from a Bank

question 82

Multiple Choice

On November 1, Greenfield Corporation borrowed $55,000 from a bank and signed a 12%, 90-day note payable in the amount of $55,000.If you assume 360 days in year, the November 30 adjusting entry will be:

• A) Debit Interest Expense $550 and credit Cash $550.
• B) Debit Discount on Notes Payable $1,100 and credit Interest Payable $1,100.
• C) Debit Interest Expense $550 and credit Interest Payable $550.
• D) Debit Interest Expense $550 and credit Notes Payable $550.

Understand the concept of standard deviation and variance in data dispersion.

Identify the symbols and their meanings within statistical formulas (e.g., n refers to sample size).

Calculate the standard deviation and variance from a given data set.

Distinguish between biased and unbiased estimates in statistics.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.