Which of the Following Accounts Has a Normal Credit Balance

question 90

Multiple Choice

Which of the following accounts has a normal credit balance?

• A)Purchases
• B)Sales Returns and Allowances
• C)Freight-In
• D)Purchase Discounts

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Definitions:

Box-and-Whisker Plots

A graphical representation of data that displays the distribution, median, quartiles, and outliers of a dataset.

Key Statistics

Important or crucial numerical information that helps summarize, analyze, or interpret data or phenomena.

Data Set

A collection of related sets of information that is composed of separate elements but can be manipulated as a unit by a computer.

Chebyshev's Theorem

A statistical theorem stating that for any real-valued random variable, a minimum proportion of values fall within a certain number of standard deviations from the mean, regardless of the shape of the distribution.