Other Comprehensive Bases of Accounting (OCBOA)are Considered Generally Accepted Accounting

question 55

True/False

Other comprehensive bases of accounting (OCBOA)are considered generally accepted accounting principles (GAAP)for state and local governments.

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Definitions:

Histogram

This is a graphical representation of data using bars of different heights where each bar groups numbers into ranges.

Unimodal

Describing a distribution with a single peak or mode, representing the most frequently occurring value.

Empirical Rules

A set of guidelines that indicate how the data are spread in a normal distribution, specifically stating that approximately 68%, 95%, and 99.7% of the data fall within one, two, and three standard deviations from the mean, respectively.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean.