The Materiality Concept Dictates That No Internal Controls Be Established

question 129

True/False

The materiality concept dictates that no internal controls be established over petty cash.

---

Definitions:

Intercept

The point where a line or curve crosses an axis on a graph, often referring specifically to where it crosses the Y-axis.

Y-Intercept

The point where a line or curve intersects the Y-axis of a graph.

Linear Regression Equation

A mathematical expression that describes a straight-line relationship between two variables, typically one dependent and one independent variable.

Pearson r

A measure of the linear correlation between two variables X and Y, ranging from -1 to 1, where 1 means total positive linear correlation, 0 means no linear correlation, and -1 means total negative linear correlation.