The Account Numbers from the Chart of Accounts Are

question 5

Multiple Choice

The account numbers from the chart of accounts are

• A)not allowed to be used to prepare journal entries; account names must be used.
• B)allowed to be used to prepare journal entries.
• C)allowed to be used to prepare journal entries if an organization has 100 or more account numbers.
• D)allowed to be used to prepare journal entries if an organization has $1 million or more in total revenues.
• E)allowed to be used to prepare journal entries if an organization also uses the account numbers in financial statements prepared for investors and creditors.

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Definitions:

Net Weight

The weight of a product without any packaging or container, essentially the weight of the goods alone.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the individual data points differ from the mean of the data set.

Significance Level

The threshold used in statistics to determine the probability of rejecting a null hypothesis when it is true.

Sample Mean

The average of a set of observations or data points, calculated by summing them all up and dividing by the number of observations.