Adjusting Entries That Are Made to Reflect Differences Between the Actual

question 17

Multiple Choice

Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called

• A)reconciliations.
• B)revaluations.
• C)estimates.
• D)accruals.

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Definitions:

Deviations

Differences between observed values and some reference value, often the mean of the data set.

Observations

In statistics, these are the individual data points or measured values gathered during a study or experiment.

Central Location

A central location refers to a primary or focal point in geography or spatial distribution, often used in market research for data collection.

Histogram

A graphical representation of the distribution of numerical data, typically showing the number of data points that fall within range bins.