What Is the Purpose of an Institutional Review Board

question 112

Multiple Choice

What is the purpose of an institutional review board?

• A)To hinder the research process by placing unnecessary hurdles in the way of researchers
• B)To help protect the rights and dignity of the research participants
• C)To encourage the use of deception in medical and psychological research with humans
• D)To help protect the university from lawsuits from unhappy research participants

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Definitions:

Retrospective Adjustment

Adjusting the financial statements of past periods to reflect the application of new accounting policies as if they had been applied all along.

Accounting Principle

Fundamental guidelines or rules that form the basis for financial accounting and reporting practices, aimed at ensuring consistency and comparability.

Comparative Financial Statements

Financial reports that show the financial position, performance, and cash flows of a company across different periods side by side for comparison.

Accounting Changes

Alterations or updates made to accounting methods, estimates, or reporting entity, which can impact the financial statements of a business.