A Business Makes a Cash Payment of $12,000 to a Creditor.Which

question 144

Multiple Choice

A business makes a cash payment of $12,000 to a creditor.Which account is debited?

• A) Cash
• B) Accounts payable
• C) Service revenue
• D) Accounts receivable

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Definitions:

Errors

The differences between observed values and the values predicted by a model, showcasing the discrepancies that can arise in data analysis.

Normally Distributed

Normally distributed refers to a dataset that follows a Gaussian distribution, where data tends to cluster around a central mean with a predictable spread.

Residuals

Differences between observed values and the estimated values provided by a model.

Predicted Values

The expected outcomes calculated using a regression line or another statistical model.