An Expense Occurred in 2013,but It Is Not Paid Until

question 20

Multiple Choice

An expense occurred in 2013,but it is not paid until 2014.Using the accrual basis of accounting,the expense should appear on:

• A)the 2013 income statement.
• B)the 2014 income statement.
• C)neither the 2013 nor the 2014 income statement.
• D)both the 2013 and 2014 income statements.

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Definitions:

Monokurtic

Describing a distribution that has kurtosis similar to that of a normal distribution, indicating the data has moderate outliers or none, and the peak of the distribution is neither flat nor too sharp.

Standard Error

For a sampling distribution (the distribution of scores for a sample), the standard deviation is called the standard error.

Positive Skew

A distribution pattern in data where the tail on the right side of the histogram is longer or fatter than the left side, indicating that the majority of data points lie to the left of the mode.

Chi-square

A statistical test used to determine if there is a significant association between two categorical variables.