Using the Data Below and a 0

question 29

Essay

Using the data below and a 0.05 significance level, test the claim that the responses occur with percentages of
15%, 20%, 25%, 25%, and 15% respectively. $$\begin{array} { r | c c c c c } \text { Response } & \mathrm { A } & \mathrm { B } & \mathrm { C } & \mathrm { D } & \mathrm { E } \\\hline \text { Frequency } & 12 & 15 & 16 & 18 & 19\end{array}$$

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Definitions:

Total Consolidated Assets

The aggregated value of all assets owned by a company and its subsidiaries as reported on the consolidated balance sheet.

Fair Value Option

The Fair Value Option is an accounting option that allows companies to measure selected financial assets and liabilities at fair value, aiming to provide more relevant financial information.

Market Value

The current price at which an asset or service can be bought or sold in the marketplace.

IFRS

International Financial Reporting Standards; a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.