SAMPLING RISK Definition

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SAMPLING RISK is the possibility that conclusions drawn from the sample may not represent correct conclusions for the entire population.

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SUBLEDGER is for the purpose of organizing revenue and expense transaction for only one account, e.g., For an individual salesperson, like a general ledger, the subledger has different default account types, each from a salespersons perspective, not a company perspective. Thus, Due is due to the salesperson and Payable is payable by the salesperson.

ACCOUNT is the detailed record of a particular asset, liability, owners equity, revenue or expense.

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