Accounting Information Is Considered to Be Relevant When It

question 86

Multiple Choice

Accounting information is considered to be relevant when it

• A) can be depended on to represent the economic conditions and events that it is intended to represent.
• B) is capable of making a difference in a decision.
• C) is understandable by reasonably informed users of accounting information.
• D) is verifiable and neutral.

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Definitions:

Sampling Frame

The list or database from which a sample is drawn for a study, containing all the elements that define the population.

Quality Control

The practice of maintaining standards in manufactured products by testing a sample of the output against the specification.

Systematic Sampling

A method of sampling where members of a population are selected at regular intervals to form a sample.

Sampling Frame

The list or database from which a statistical sample is drawn, ideally including the entire population or a complete representation of it.