As DrTrelawny Marks the First Three Midterms for Her Class,she Notes

question 105

Multiple Choice

As Dr.Trelawny marks the first three midterms for her class,she notes that the grades are very high.She then thinks that this class must be exceptionally bright.What is Dr.Trelawny using to make this illogical assumption

• A) gambler's fallacy 
• B) overestimating the improbable 
• C) confirmation bias 
• D) belief in the law of small numbers

Understand the concept of double-entry accounting and how it is implemented in QuickBooks transactions.

Recognize the different lists available in QuickBooks and their purpose, including Customer List, Vendor List, and Item List.

Familiarize with the QuickBooks Home Page layout and where to access various forms and transactions.

Understand the journal entries QuickBooks automatically records behind the scenes for different transactions.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide how financial events are reported in financial statements globally.

Financial Statement Presentation

The structured representation of the financial information, typically including the balance sheet, income statement, and cash flow statement, of an entity.

Return on Assets

This measures how efficiently a company's management is using its total assets to generate profits.

Asset Turnover

A financial ratio that measures the efficiency of a company's use of its assets to generate sales or revenue.