Corrections of Previous Years Errors Are Made Directly Through Which

question 24

Multiple Choice

Corrections of previous years errors are made directly through which account:

• A)​Deferred Asset
• B)​Deferred Liability
• C)​Fund Balance- Unassigned
• D)​General Liability

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Definitions:

Mean

An average of a group of values, computed by dividing the sum of the group of values by the number of values in the group.

Frequency Distribution

A mathematical function showing the number of instances in which a variable attains each of its possible values.

Histogram

A diagram that presents the grouped data from a frequency table.

Frequency Distribution

This represents the way in which data is divided or distributed across different possible values or ranges, typically shown in a table or graph.