Which of the Following Statements Is False

question 138

Multiple Choice

Which of the following statements is false?

• A)Thomas Bayes first employed the calculation of conditional probability in the eighteenth century.
• B)There is no formula defining Bayes' Law.
• C)We use a probability tree to conduct all necessary calculations for Bayes' Law.
• D)None of these choices.

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Definitions:

Temporary Accounts

These are accounts that are closed at the end of each accounting period, including revenues, expenses, dividends, and income summary accounts, to prepare the company for a new accounting period.

Retained Earnings

The portion of net income not distributed as dividends but retained by the company to reinvest in its business or to pay debt.

Accounting Period

A specific duration of time for which financial statements are prepared, often annually, quarterly, or monthly, to measure financial performance.

Adjusted Trial Balance

An inventory of all accounts with their adjusted balances, utilized to compile financial statements.