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Test of transaction is a test set up to dectect monetary error in accountings. On the other hand, Test of balance are again directed towards detecting monetary errors in the financial statement. The only difference is that testing is concentrated on the balance itself and not the individual transaction which comprise the balance. Through management's assertion, one can derive the objectives.
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Is there a statistical test to assess the difference between two ratios. I have numbers which are ratios and want to test whether there is a statistical difference between them?
You can use the z test for two proportions. The link below will do this test for you.
What is t Test?
t-test is the statistical test used to find the difference of mean between two groups
What are difference between uniformly most powerful test and most power test?
the mp test is only for a specified value of hypothesis and the UMP test is for a set of values
Is a t-test a parametric study?
Yes, it is. The one sample t-test is a study of the parameter population-mean. You can also use the t-test to test for the difference between two population means (both parameters).
Difference between chi square and Anova?
ANOVA is a statistical test of whether the means of several groups are all equal. The chi-square test of association is used to test the null hypothesis that there is no association between two nominal scale variables. It does not require a distinction between independent and dependent variables.
