The Method of Estimating Econometric Models Which Involves Fitting a Line

question 14

Multiple Choice

The method of estimating econometric models which involves fitting a line to the data by minimising the sum of squared residuals is the

• A) Method of ordinary least squares
• B) Method of moments
• C) Method of generalised squared moments
• D) Method of maximum likelihood

Appreciate the role of internal controls in ensuring the success and security of a business.

Calculate and analyze the days' sales uncollected to evaluate company efficiency in receivables management.

Understand and apply the concept of recording transactions using both the gross and net methods.

Identify and explain the principles of internal control systems.

---

Definitions:

Title Insurance

Insurance to protect against loss from disputes over ownership of a property or from defects in the property's title.

Defect

A flaw or imperfection in a product or system that fails to meet a certain standard or expectation, potentially causing harm or failure.

Title

Legal ownership of property, including the rights to use, possess, and transfer the property.

U.S. Constitution

The foundational legal document establishing the framework of the federal government and outlining the rights of American citizens.