View-Driven Accounting Information Systems Often Foster the Idea of Stovepiping

question 54

Multiple Choice

View-driven accounting information systems often foster the idea of stovepiping in organizations.Which of the following is an example of stovepiping?

• A)All department heads meet to discuss company strategy.
• B)A sales representative quotes a price that is less than cost.
• C)Both all department heads meet to discuss company strategy and a sales representative quotes a price that is less than cost are examples of stovepiping.
• D)Neither all department heads meet to discuss company strategy nor a sales representative quotes a price that is less than cost is an example of stovepiping.

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Definitions:

Point Estimate

A single value estimate of a population parameter that serves as the best guess or prediction of the parameter.

Confidence Limits

Confidence limits define the range within which a population parameter is estimated to lie with a certain level of confidence.

Standard Error

A measure of the dispersion or spread of sample means around the population mean.

Confidence Interval

A range of values, derived from a data set, that is likely to contain the value of an unknown population parameter.