To Guard Against Misuse of Statistics a Person Should Do

question 19

Multiple Choice

To guard against misuse of statistics a person should do all of the following EXCEPT:

• A) avoid use of statistics whenever possible.
• B) look for the control group.
• C) be cautious about correlations.
• D) check to see how terms have been defined.

---

Definitions:

Error Correction

A process in accounting used to rectify inaccuracies or mistakes in financial records and statements.

Inventory Costing Method

A system used to value inventory, including methods such as FIFO (First In, First Out), LIFO (Last In, First Out), and weighted average cost.

Fiscal Year End

The closing date of a 12-month accounting period upon which a company completes its annual financial reporting and determines net income.

Tax Effects

The impact of taxation on investment returns, business operations, or individual income.