Broad Concepts or Guidelines and Detailed Practices That Together Make

question 138

Multiple Choice

Broad concepts or guidelines and detailed practices that together make up accepted accounting practice at a given time are referred to as _____.

• A)accounting rules and regulations
• B)accounting conventions
• C)Generally Accepted Accounting Principles GAAP)
• D)Internal Revenue Systems regulations

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Definitions:

5%

Often used as a significance level in hypothesis testing, indicating a 5 percent risk of concluding that a difference exists when there is no actual difference.

Model Significant

A statistical model that achieves significance levels indicating that it provides reliable predictions or insights.

Alpha

Often used in statistics to denote the level of significance, the threshold at which the null hypothesis is rejected in hypothesis testing.

Coefficient Of Determination

A measure of the goodness of fit of the estimated regression equation. It can be interpreted as the proportion of the variability in the dependent variable y that is explained by the estimated regression equation.