Identify the Statement Below That Correctly Describes the Sales Returns

question 9

Multiple Choice

Identify the statement below that correctly describes the Sales Returns and Allowances account.

• A)It normally has a debit balance.
• B)It is a liability account.
• C)It is an expense account.
• D)It normally has a credit balance.

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Definitions:

High School Education

A secondary level of formal schooling that follows primary education, typically including grades 9 or 10 through 12, and culminating in a diploma.

Proportion

A statistical measure that reflects the fraction or percentage of the total number of cases that fall within a particular category.

Statistic

A characteristic or measure obtained from a sample of data to estimate a population parameter.

Sampling Distribution

The likelihood distribution of a statistic, achieved by drawing numerous samples from a certain population.