You Know the Following Is True When Conducting a Hypothesis

question 16

Multiple Choice

You know the following is true when conducting a hypothesis test.

• A) Your significance level is higher when your p value is higher.
• B) Your decision is an error if the p value is greater than alpha.
• C) You should determine your significance level or alpha before conducting your statistical test.
• D) When you conduct your statistical analysis you should adjust your significance level to ensure you achieve statistical significance.

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Definitions:

Cost Model

An accounting approach that measures an asset based on its historical cost minus any accumulated depreciation and impairment losses.

Impairment

Reduction in the recoverable value of an asset below its carrying amount.

Recoverable Amount

The higher value between an asset's fair market value less costs to sell and its value in use.

AASB 136

The Australian Accounting Standards Board standard that deals with impairment of assets, requiring assets to be carried at no more than their recoverable amount.