Which of the Following Is a True Statement

question 41

Multiple Choice

Which of the following is a true statement?

• A)Transactions are events that may be either external or internal to an enterprise.
• B)Events that are internal to the firm do not require entries in the firm's accounts.
• C)Transactions are economic or financial events that may or may not be recorded in the firm's accounts.
• D)"Simple events" do not have any significant economic variables that lead to essentially different recording.

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Definitions:

Normal Approximation

Normal approximation is a statistical method that involves approximating a binomial distribution to a normal distribution under certain conditions, facilitating easier calculations.

Positively Skewed

A distribution of data where most values are concentrated on the left side, with a long tail extending to the right.

Standard Error

A statistic that measures the dispersion of sample means around the population mean.

Sample Mean

The arithmetic average of a sample set of data, used to estimate the population mean.