Identify the Observed Level of Significance for the Test Summarized

question 36

Essay

Identify the observed level of significance for the test summarized on the screen below and
interpret its value.

---

Definitions:

Fair Value

The proceeds from selling an asset or the financial burden of a liability transfer in a civilized negotiation with market participants on the valuation date.

Functional Currency

The main currency used by a business or in an economy, often the domestic currency or the currency of the primary economic environment in which the entity operates.

Foreign Currency

Refers to currencies other than the domestic currency of a company, used in international trade and investment.

Liabilities

Financial obligations or debts owed by a company to others, which are expected to be paid or settled in the future.