Which of the Following Is True About Reliability and Validity

question 2

Multiple Choice

Which of the following is true about reliability and validity?

• A) Reliability and validity are the same concept.
• B) Reliability and validity are mutually exclusive.
• C) A measure can be either reliable or valid.
• D) If we hope to measure validity, we need to assess reliability.

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Definitions:

Period Costs

Expenses that are not directly associated with the production process and are expensed in the period they are incurred.

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and regulators.

Direct Manufacturing Cost

Expenses that are directly attributable to the production of goods, including materials and labor directly involved in the manufacture.

Period Costs

Expenses that are not directly tied to the production process and are instead charged to the period in which they are incurred.