Which of the Following Statements Is True

question 96

Multiple Choice

Which of the following statements is true?

• A) A post-closing trial balance should include only permanent accounts.
• B) Closing entries are only necessary if errors have been made.
• C) By using a work sheet to prepare adjusting entries you need not post these entries to the ledger accounts.
• D) Owner's capital must be closed each accounting period.
• E) The work sheet can be substituted for preparing financial statements.

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Definitions:

Degrees Of Freedom

The number of independent values within a statistical calculation that are free to vary without violating any constraints.

T-Test

A T-test is a statistical test used to compare the means of two groups to see if they are significantly different from each other, commonly used when data follows a normal distribution.

Matched Pairs Experiment

An experimental design in which the participants are paired up according to a specific criterion, ensuring that each pair is as similar as possible, and then different treatments are applied to the members of each pair.

Paired Data

Paired data refers to sets of data where each pair of observations is related in some way, commonly used in studies that involve matched subjects or before-and-after comparisons.