Every Journal Entry

question 38

Multiple Choice

Every journal entry:

• A)must increase at least one account and decrease at least one account.
• B)must debit at least one account and credit at least one account.
• C)is recorded in either the journal or the ledger.
• D)affects both an income statement account and a balance sheet account.

---

Definitions:

1 - β

The power of a statistical test, representing the probability of correctly rejecting the null hypothesis when it is false.

Type I Error

The false rejection of the true null hypothesis, often referred to as a "false positive," in the context of hypothesis testing.

Type II Error

A statistical error that occurs when a false null hypothesis is not rejected.