For Effective Internal Control Over Accounts Payable,the Purchasing Department Should

question 3

True/False

For effective internal control over accounts payable,the purchasing department should approve invoices for payment.

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Definitions:

Unbiased Estimator

A statistic used to estimate a parameter that is expected to be equal to the true parameter of the population.

Population Parameter

A numerical characteristic or measure of an entire population, such as a mean (average), variance, or proportion.

Relative Efficiency

A measure comparing the precision or performance of two statistical estimators or methods.

Unbiased

An attribute of an estimator in statistics that means the expected value of the estimator equals the true parameter value it estimates.