In RKH Corporation's Chart of Accounts, the Account Number for Cash

question 14

Multiple Choice

In RKH Corporation's chart of accounts, the account number for cash is "1.1.1," while the account number for "land" is "1.2.1." From that information, we can infer that:

• A) RKH uses mnemonic coding in its chart of accounts.
• B) The middle digit distinguishes current assets from long-term assets.
• C) RKH employs information technology in its accounting information system.
• D) No other company utilizes RKH's system for chart of accounts coding.

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Definitions:

Symmetrical

In statistics, it describes a situation where the data distribution is evenly spread around the mean, having a balanced shape on either side.

Normal Curve

A bell-shaped curve that represents the distribution of many types of data where most values cluster around a mean.

Z Score

A numerical indicator showing how a specific value compares to the average of a set of values, given as the number of standard deviations away from that average.

Distributions

Statistical data arrangements showing the frequencies of potential outcomes or occurrences.