When the Sum of All Entries in the Subsidiary Ledger

question 71

Multiple Choice

When the sum of all entries in the subsidiary ledger equals the balance in the corresponding general ledger account,it is assumed that

• A)the recording processes were accurate.
• B)all source documents were recorded.
• C)adjusting entries are not required.
• D)no errors exist in the subsidiary ledger.

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Definitions:

Variables

Any characteristics, number, or quantity that can be measured or counted.

Pearson Correlation

A measure of the linear correlation between two variables, ranging from -1 to 1, where 1 is total positive linear correlation, 0 is no linear correlation, and -1 is total negative linear correlation.

Critical Values

Thresholds in statistical testing that delineate areas where the test statistic leads to the rejection or acceptance of the null hypothesis.

Variables

Elements, characteristics, or conditions that can change or vary within a study, potentially influencing the outcome.