Which of the Following Is/are Characteristics of 'Comparability

question 70

Multiple Choice

Which of the following is/are characteristics of 'comparability'?

• A) Users must be able to compare the financial reports of an entity with the financial reports of a shareholder.
• B) Users must be able to compare the current financial reports with prior period financial reports of an entity.
• C) Users must be able to compare the financial reports of an entity with the financial reports of another entity.
• D) Users must be able to compare the current financial reports with prior period financial reports of an entity and users must be able to compare the financial reports of an entity with the financial reports of another entity.

Recognize various definition violations such as circularity, broadness, narrowness, and use of obscure language.

Understand the function of logical definitions.

Distinguish between ostensive and logical definitions.

Comprehend the variability and borders of concepts.

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Definitions:

Error of Estimation

The discrepancy between a population parameter and its estimate, indicating the uncertainty associated with the estimation process.

Statistic

A single measure, calculated from sample data, used to summarize a characteristic of the sample.

Parameter

A characteristic or measure that can define or summarize a particular aspect of a statistical population or model.

Estimation

The process of finding an approximate value of some parameter—such as a mean or proportion—of a population, based on random sample data.