The Concept of Recognizes That Managers Must Use Their Judgment

question 10

Multiple Choice

The concept of recognizes that managers must use their judgment to ensure that the cost of control does not exceed the system's benefits or the risks involved.

• A) competitive intelligence
• B) reasonable assurance
• C) separation of duties
• D) risk assessment

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Definitions:

Point Estimate

A single value that serves as the best guess or best estimate of a population parameter based on sample data.

Point Estimate

A single value given as the best guess or estimate representing a population parameter, based on sample data.

Proportion

A part, share, or number considered in comparative relation to a whole; a statistical measure often used to describe a characteristic of a sample.

Variability

The extent to which data points in a statistical distribution or dataset differ from the average or mean value.