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Using the table below, indicate the impact of the following errors made during the adjusting entry process. Use a "+" for overstatements, a "-" for understatements, and a "0" for no effect. The first one is provided as an example.
Total Sum
The aggregate value obtained by adding all the numbers in a set of values.
Observations
Data points or individual pieces of information collected during a study or experiment.
Confidence Interval
A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter at a given confidence level.
Promotional Expenditures
Costs incurred by an entity in marketing and advertising efforts to promote its products, services, or brand.
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