Listed Below Are Two Pieces of Information

question 152

Multiple Choice

Listed below are two pieces of information.Where is the best place to locate this information,in the journal or the ledger?
1) Details of a transaction that took place on October 3.
2) All of the sales activity that took place during the current month.

• A) 1. Journal 2. Journal
• B) 1. Journal 2. Ledger
• C) 1. Ledger 2. Ledger
• D) 1. Ledger 2. Journal
• E) This information is only available on the financial statements.

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Definitions:

Mutually Exclusive Event

Situations or events that cannot occur at the same time, meaning the occurrence of one event precludes the occurrence of the other.

Independent Event

An independent event is an event whose outcome is not influenced by the outcome of another event; in probability, this means that the occurrence of one event does not change the probability of another.

Standardized Z Values

Values resulting from the standardization process that measures the number of standard deviations a data point is from the mean of its distribution.

Probability

An evaluation of event occurrence likelihood, represented as a numerical value ranging between 0 and 1.