Which of the Following Is NOT a Correct Statement About

question 74

Multiple Choice

Which of the following is NOT a correct statement about adjusting entries?

• A)Every adjusting entry affects cash.
• B)Every adjusting entry affects the balance sheet.
• C)Every adjusting entry affects net income.
• D)Adjusting entries are posted before the adjusted trial balance is prepared.

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Definitions:

Percentiles

Statistical measures indicating the value below which a given percentage of observations in a group of observations falls.

Interquartile Range

A measure of variability, defined as the difference between the first and third quartiles, describing the middle 50% of a data set.

25th Percentile

A value below which 25% of the data falls.

75th Percentile

A value below which 75% of the data points in a dataset fall, used as a measure of dispersion.