A Check Payment for $658 Was Incorrectly Entered in the Cash

question 25

Multiple Choice

A check payment for $658 was incorrectly entered in the Cash account as $856.Which of the following adjustments needs to be made?

• A) decrease the book balance
• B) decrease the bank statement balance
• C) increase the book balance
• D) increase the bank statement balance

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Definitions:

Consistent Estimator

An attribute of an estimator indicating that as the sample size increases, the estimates it produces converge in probability to the parameter being estimated.

Sample Mean

The mean value derived from a dataset sample, utilized to predict the overall population's average.

Sampling Distribution

The probability distribution of a statistic (like a mean) derived from a large number of samples of a population.

Unbiased Estimators

Statistical estimators that are expected to equal the population parameter over many samples.