The Measures Used by an Organization to Provide Reasonable Assurance

question 111

Multiple Choice

The measures used by an organization to provide reasonable assurance that the organization produces reliable financial reports,complies with applicable laws and regulations,and conducts its operations in an efficient and effective manner are collectively

• A)Generally accepted accounting principles.
• B)Financial accounting standards.
• C)Securities and exchange regulations.
• D)The internal control structure.

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Definitions:

Null Hypothesis

In testing, it is the presumption that no effect or no difference exists in the population, serving as the hypothesis that is formally tested.

P-value

A measure in statistical hypothesis testing that helps in determining the significance of results, indicating the probability of observing the data if the null hypothesis is true.

Simple Random Sample

A sample drawn in such a way that every member of the population has an equal chance of being selected.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, often related to the number of values in the final calculation of a statistic that are free to vary.