If the Alpha Level Is Set at

question 33

Multiple Choice

If the alpha level is set at .01, then a p < .01

• A) suggests a significant result.
• B) suggests a non-significant result.
• C) means that we should reject H₀.
• D) both "a" and "c" are true.

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Definitions:

Journal

A Journal in accounting is the initial record where financial transactions are entered before they are posted to accounts in the ledger, serving as the primary point of documentation for business activities.

Transactions

Business events that involve the exchange of goods, services, or funds, which impact a company's financial statements.

Ledger

A book or collection of financial accounts where transactions are recorded.

Trial Balance

A report that lists all the accounts and their balances at a particular time, used to verify that total debits equal total credits in the double-entry accounting system.