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Define and Distinguish Between Reliability and Validity

question 83

Essay

Define and distinguish between reliability and validity.Is it necessary for a test to be valid in order for it to be reliable? Is it necessary for a test to be reliable in order for it to be valid? Explain your decisions.


Definitions:

Current Asset

Asset expected to be converted into cash, sold, or consumed within a year or within the business's operating cycle.

Liability Subsections

The divisions within the liabilities section of a balance sheet, categorizing liabilities based on their nature or duration, such as current liabilities and long-term liabilities.

Long-Term Liabilities

Liabilities that usually will not be due for more than one year.

Net Income

The amount of profit left over after all expenses, taxes, and costs have been subtracted from total revenue.

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