If You Are Very Concerned About Making a Type I

question 2

Multiple Choice

If you are very concerned about making a type I error what would be the best alpha to select?

• A) 0.10
• B) 0.05
• C) 0.01
• D) One that is greater than your p value.

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Definitions:

GAAP

Stands for Generally Accepted Accounting Principles, which are a common set of accounting rules and standards used in the United States.

Notes Payable

Written agreements where a borrower promises to pay back a specified sum to the lender at a future date.

Adjusting Entry

A journal entry made at the end of an accounting period to record any unrecognized income or expenses for that period.

Sales Tax

Sales tax is a government levy imposed on the sale of goods and services, collected by the seller from the buyer at the point of sale.