An Accounting System That Maintains an Adequate Audit Trail Is

question 156

Multiple Choice

An accounting system that maintains an adequate audit trail is implementing which internal control procedure?

• A)access controls
• B)segregation of functions
• C)independent verification
• D)accounting records

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Definitions:

Population Values

The actual numerical values representing a characteristic of every individual member of a population.

Confidence Level

A measure indicating the probability that a given range includes the true value of an estimated parameter.

Confidence Interval

A confidence interval is a range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Alpha (α)

In investing, alpha represents the excess returns of a portfolio relative to the return of a benchmark index. In statistics, it often denotes the level of significance in hypothesis testing.