Describe Sensitivity and Specificity

question 56

Essay

Describe sensitivity and specificity.

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Definitions:

AASB 101

Denotes the Australian Accounting Standards Board Standard 101, prescribing the basis for presentation of general purpose financial statements to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities.

Equity

Equity represents the value that would be returned to a company's shareholders if all of the assets were liquidated and all of the company's debts were paid off.

Forfeited Shares

Stocks that are taken back by a company from investors because of the failure to meet certain conditions of the purchase agreement like payment completion.