TEST Definition

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TEST, in statistics, is taking a ample from a population to estimate characteristics of the population.

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VAR is an acronym for Value-Added Reseller (usually of technology products) or, in finance, Value at Risk.

LCM RULE is an abbreviation for lower-of-cost-or-market rule. LCM requires that an asset be reported on the financial statements at the lower of purchase cost or market value.

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