RB Purchased a Machine on January 1, 2014

question 9

Multiple Choice

RB purchased a machine on January 1, 2014. The invoice price was $1,000, terms 1/10, n/31. Provincial sales tax on the invoice price was 4 percent. Other related cash payments by RB were: shipping, $75, and installation, $100. The invoice was paid on January 23, 2014. The machine account should be debited for:

• A) $1,105.
• B) $1,130.
• C) $1,205.
• D) $1,215.

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Definitions:

Sample Variance

The measure of dispersion within a sample data set, indicating how much the sample points deviate from the sample mean.

Confidence Interval

A series of values, calculated from sample measurements, speculated to hold within it the unknown parameter of a population.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values.

Sample Mode

The value that appears most frequently in a given set of data from a sample.