A Tabulation of Invoices at the End of the Day

question 74

Multiple Choice

A tabulation of invoices at the end of the day showed $800 in MasterCard invoices, which were deposited into a bank account at full value, less a 5 percent discount. The entry to record the above events would include an increase in

• A) Accounts Receivable for $760.
• B) Cash for $800.
• C) Sales for $760.
• D) Credit Card Expense for $40.

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Definitions:

Predictor Variable

A variable used in statistical modeling to predict or forecast the outcome of an interest variable.

Regression Equation

A mathematical formula that describes the relationship between one dependent variable and one or more independent variables.

Predictor Variables

Variables used in statistical models that are believed to influence or predict the outcome.

Regression Equation

A formula that represents the relationship between dependent and independent variables in a regression model.