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Describe Two Areas Where Segregation of Duties Is Important in the Expenditure

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Essay

Describe two areas where segregation of duties is important in the expenditure cycle.


Definitions:

Central Limit Theorem

A statistical theory stating that the distribution of sample means approximates a normal distribution as the sample size becomes large, regardless of the population's distribution.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, essential in estimating the sampling variability.

Sample Mean

The average value of a sample, used as an estimate of the population mean.

Infinite Population

A hypothetical concept referring to a population of unlimited size, used as an assumption in certain statistical models.

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