The Major Goal of Statistical Inference Is to Make Supportable

question 19

Multiple Choice

The major goal of statistical inference is to make supportable conjectures about the unknown characteristics of a

• A) Population
• B) Standard errors
• C) Sample
• D) Estimator

---

Definitions:

Qualitative Characteristics

These are the attributes that make the information provided in financial statements useful to users.

Understandability

A characteristic of financial information that makes it comprehensible to those with a reasonable knowledge of business and economic activities.

Decision Usefulness

A principle in accounting that information should help users make decisions regarding their investments, credit, and similar considerations.

Conceptual Framework

A system of interrelated objectives and fundamentals that provides the foundation for financial accounting and reporting standards.