Compilation Reports May Include

question 19

Multiple Choice

Compilation reports may include

• A) Compilations when the accountant is not independent.
• B) Compilations with full disclosure.
• C) Compilations that omits substantially all disclosures.
• D) Any of the above.

Distinguish between point estimates and outliers in statistical analysis.

Calculate and interpret sample proportions.

Sketch and interpret various types of distribution patterns including symmetrical, unimodal, and bimodal distributions.

Understand and explain the concepts of skewness and normal distribution.

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Definitions:

Falsifiability

A principle stating that for a hypothesis to be scientifically valid, it must be possible to conceive an observation or an argument which could negate it.

Intuition

The ability to understand or know something immediately, based on feelings rather than facts.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.

Motivational Biases

Distortions in perception or judgment caused by personal desires, needs, or emotions rather than evidence or reason.