At the End of the Accounting Period, the Following Should

question 50

Multiple Choice

At the end of the accounting period, the following should occur with supplies.

• A) No action is required.
• B) An adjusting entry should be made to expense the used supplies at the end of the period.
• C) A physical inventory should be taken.
• D) Both b and

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Definitions:

Two-Tailed

A hypothesis test that allows for the possibility of an effect in two directions, either less than or greater than a specified range.

Pearson Correlation

A statistical measure that evaluates the linear relationship between two continuous variables.

Critical Values

Threshold values on the scale of a test statistic beyond which the null hypothesis is rejected.

Variables

Any characteristics, number, or quantity that can be measured or counted.