Please Define the Following Key Terms

question 19

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Clovis

Understand the significance of content, concurrent, and construct validity in the evaluation of test effectiveness.

Recognize the role of correlation in assessing the relationship between test scores and other variables.

Know the steps involved in selecting, administering, and evaluating the effectiveness of tests.

Grasp the importance of item characteristic curves (S curves) in Item Response Theory for item analysis.

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Definitions:

Capital Lease

A lease agreement that is considered a purchase of the asset for accounting purposes because it transfers substantially all risks and rewards of ownership to the lessee.

Ordinary Gain

A profit resulting from business operations or the sale of assets, excluding extraordinary items and discontinued operations.

Extraordinary Gain

A gain resulting from events or transactions that are both unusual in nature and infrequent in occurrence, separated from regular business operations.

Fair Market Value

The price at which an asset would sell in the market under conditions where buyers and sellers are acting freely, informed, and without undue pressure.