Preparing a Bank Reconciliation on a Monthly Basis Is an Example

question 52

Multiple Choice

Preparing a bank reconciliation on a monthly basis is an example of:

• A) Establishing responsibility.
• B) Separation of duties.
• C) Protecting assets by proving accuracy of cash records.
• D) A technological control.
• E) Poor internal control.

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Definitions:

Pearson Correlation Coefficient

The Pearson Correlation Coefficient is a measure of the linear correlation between two variables, ranging from -1 to +1, where 1 means a perfect positive correlation and -1 means a perfect negative correlation.

Negative Numbers

Numbers less than zero, represented by a minus (-) sign.

Critical Values

Specific points on the scale of a test statistic that determine the threshold for rejecting a null hypothesis.

Two-Tailed

Two-Tailed tests in statistics are used to determine if there is either a positive or negative effect, and the significance is checked in both directions of the distribution.