When Do You Say the Difference Between Two Numbers Is

question 59

Multiple Choice

When do you say the difference between two numbers is statistically significant?

• A)as long as the two numbers are not exactly the same
• B)if the difference is large enough so that it is managerially important
• C)if the difference is mathematically different
• D)if the difference is observed over an extended period of time
• E)if the difference is large enough to be unlikely to have occurred because of chance or sampling error

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Definitions:

Cash Payments Journal

A specialized accounting journal used to record all cash outflows or payments made by a business.

General Journal

A bookkeeping ledger that records every financial transaction of a business in chronological order.

Revenues Journal

A record of sales and income transactions, typically used in accounting to track and manage revenue generation.

Cash Receipts Journal

An accounting journal used to record all cash inflows or money received by the business.