When should inferential statistics typically be used?
a.Before descriptive statistics
b.After descriptive statistics
c.At the same time as descriptive statistics
d.Never with descriptive statistics
ANS:B
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A sales ticket cannot be used as evidence of a sale
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At common law, parties to an illegal contract were considered in equal fault
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A company had revenues of $75,000 and expenses of $62,000 for the accounting period. Dividends of $8,000 were paid in cash during the same period. Which of the following entries could not be a closing entry?
A. Debit Revenues $75,000; credit Income Summary $75,000. B. Debit Income Summary $13,000; credit Retained earnings $13,000. C. Debit Retained earnings $8,000, credit Dividends $8,000. D. Debit Income Summary $75,000; credit Revenues $75,000. E. Debit Income Summary $62,000, credit Expenses $62,000.
Which of the following is an entity that exists independently of other entity types?
A) Codependent B) Weak C) Strong D) Variant