Which of the Following Statements Is Incorrect

question 111

Multiple Choice

Which of the following statements is incorrect?

• A) A major consideration in developing an accounting system is cost effectiveness.
• B) When an accounting system is designed no consideration needs to be given to the needs and knowledge of the various users.
• C) The accounting system should be able to accommodate a variety of users and changing information needs.
• D) To be useful information must be understandable relevant reliable timely and accurate.

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Definitions:

Population Proportion

A measure that represents the fraction of individuals in a population having a particular attribute.

Standard Error

A statistic that measures the dispersion of sample means around the population mean, often used to estimate the accuracy of sample statistics.

Sampling Distribution

An outcome distribution of a statistic, created by sampling extensively from a designated population.

Standard Error

A measure of the statistical accuracy of an estimate, reflecting the standard deviation of the sampling distribution of a statistic.