Separation of Authorization of Transactions from Custody of Related Assets

question 161

True/False

Separation of authorization of transactions from custody of related assets is related to proper separation of duties.

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Definitions:

Confidence Interval

A confidence interval is a range of values, derived from sample statistics, used to estimate the true value of a population parameter with a certain degree of confidence.

Normally Distributed

Describes a type of continuous probability distribution for a real-valued random variable where the data forms a symmetric, bell-shaped curve about the mean.

Variances Assumed

A condition in statistical analysis where it is presumed that the variances of two or more populations are equal, important in certain tests like ANOVA.

Independent Random Samples

Samples selected from a population in such a way that each individual has the same chance of being selected, and the selection of one individual does not affect the selection of another.