Match the Term and the Explanation

question 128

Multiple Choice

Match the term and the explanation.Not all explanations will be used.

-Summary of Significant Accounting Policies

• A)The time at which a loan must be repaid.
• B)A financial statement that shows the calculation of bad debt expense for a company.
• C)Total money owed the company for sales made on credit.
• D)Net credit sales revenue divided by the net income.
• E)An agreement by a borrower to repay the lending company with interest during a specified time period.
• F)Time at which a borrower must make annual interest payments.
• G)Contra-asset account.
• H)The days of the year divided by the receivables turnover ratio.
• I)The portion of accounts receivable that the company expects to collect.
• J)An account that is debited for the amount of credit sales estimated as uncollectible.
• K)Net credit sales revenue divided by the average net accounts receivable.
• L)Accounts receivable after cost of goods sold and taxes.
• M)The last date a good can be sold for the full price.
• N)The days of the year divided by the net sales revenue.
• O)Part of the Notes to Financial Statements that should include information on how a company accounts for doubtful accounts receivable.

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Definitions:

Null Hypothesis

In hypothesis testing, it's the hypothesis that assumes no effect or no difference and serves as the basis for testing statistical significance.

Means

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of the numbers in the set.

μ

The symbol denoting the population mean in statistics, representing the average of a set of values.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to make inferences about the population.