Examlex
What is the effect of an error in the ending inventory balance on the income statement?
Type I Error
The incorrect rejection of a true null hypothesis, also known as a "false positive," occurring when a statistical test falsely indicates the presence of an effect.
Type I Error
A statistical error made by rejecting the null hypothesis when it is actually true, known as a false positive.
Type II Error
The failure to reject a false null hypothesis, also known as a "false negative."
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