Management Accountants Are Not Required to Follow the Generally Accepted

question 44

True/False

Management accountants are not required to follow the generally accepted accounting principles that are used for external financial reporting when preparing reports for internal users.

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Definitions:

Statistical Procedure

A statistical procedure involves methods and operations applied on data to analyze, interpret, or draw conclusions from it.

Spearman Rank-Order

A nonparametric method for evaluating rank correlation which determines how accurately a monotonic function can depict the relationship between two variables.

P Value

A measure in statistical hypothesis testing representing the probability of obtaining a result at least as extreme as the one observed, assuming the null hypothesis is true.

Positive Relationship

A relationship between two variables where as one variable increases, the other variable also increases or as one decreases, the other also decreases.