GAAP Stands for Generally Accepted Auditing Procedures

question 2

True/False

GAAP stands for Generally Accepted Auditing Procedures.

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Definitions:

Null Hypothesis

The hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.

Alternative Hypothesis

In hypothesis testing, it is the hypothesis that suggests there is an actual effect or relationship present in the population.

P-value

The chance of encountering outcomes in a test that are as extreme or exceed the observed findings, given that the null hypothesis holds.

Test Statistic

A value calculated from sample data that is used in hypothesis testing to decide whether to reject the null hypothesis.