The Term Used When the Physical Inventory Account Doesn't Match

question 85

Multiple Choice

The term used when the physical inventory account doesn't match the Inventory account balance at the end of the period is

• A) Inventory Degradation.
• B) Inventory Theft.
• C) Inventory Shrinkage
• D) Inventory Management.

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Definitions:

False Null Hypothesis

A hypothetical error that occurs when a true null hypothesis is incorrectly rejected.

Type II Error

The statistical error that occurs when a test fails to reject a false null hypothesis, also known as a "false negative."

Sample Size

Refers to the number of observations or data points collected in a sample from a population for the purpose of statistical analysis.

Level of Significance

The threshold chosen by the researcher which determines the probability at which the null hypothesis will be rejected, often denoted by alpha (α).