Match the Following Terms with Their Correct Definitions

question 173

Multiple Choice

Match the following terms with their correct definitions.
-the collection of environmental factors that influence the effectiveness of control procedures

• A)accounting system
• B)business process risks
• C)control activities
• D)control environment
• E)internal control system
• F)safeguarding
• G)segregation of duties
• H)strategic risks

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Definitions:

High-low Method

A technique in managerial accounting used to estimate the variable and fixed cost components of a cost formula, analyzing the highest and lowest levels of activity.

Scattergraph

A graphical method used in statistics to display the values of two variables for a set of data, helping to identify the relationship between them.

Independent Variable

A variable that acts as a causal factor; activity is the independent variable, as represented by the letter X, in the equation Y = a + bX.

Least-squares Regression

A statistical method used to determine the line of best fit by minimizing the sum of the squares of the vertical deviations from each data point to the line.