Exam 17: Overview of Sampling

Which of the following does not affect the sample size in an attributes sampling application?

An auditor is determining the appropriate sample size for a variables sampling application.Compared to prior engagements,the auditor concludes that the population variability has increased.In addition,the partner on the engagement is requiring lower levels of the risk of incorrect acceptance than those used in previous audits.What effect will these changes have on the auditor's determination of sample size?

Which of the following would be an example of an action that exposes an auditor to nonsampling risk?

In a sampling application to determine the average age of employees in management positions,the sample estimate was 50 years,reliability was 80 percent,and precision was 10 years.Which of the following would most likely result from an increase in the desired level of reliability to 90 percent?

Below is a listing of major steps in the sampling process.Indicate,using the correct letter,the phase in which each step belongs.Each phase may be associated with more than one step. A. Planning. B. Performing. C. Evaluating. ___ 1. Determine the sample size. ___ 2. Determine the objective of sampling. ___ 3. Evaluate the sample results. ___ 4. Define the population. ___ 5. Measure sample items. ___ 6. Select sample items. ___ 7. Define the characteristic of interest.

A sample selection method in which items are selected in a nonsystematic manner is referred to as

Which of the following would typically result in nonsampling risk?

Documentation is required during which of the following stages of the sampling process?

Which of the following statements best describes nonstatistical sampling?

An auditor is most likely to use statistical sampling under which of the following situations?

The type of sampling most frequently used by the auditors during their substantive procedures is referred to as

Which of the following sampling risks is associated with the use of variables sampling?

When considering the results of an attributes sampling application,the auditor compares which of the following two measures?

Which of the following is not true with respect to the risk of incorrect acceptance?

In which of the following circumstances would the auditor most likely use variables sampling?

Place the following steps in the sampling process in the order in which they are performed. 1 = Measure sample items 2 = Select sample items 3 = Define the population

The probability that an auditor's conclusion based on a sample might be different from the conclusion based on the entire population identifies the concept of

If a golf professional is interested in determining whether a golf ball can be hit over 300 yards,which of the following relationships between the adjusted sample estimate of distance and the actual distance would represent sampling risk?

When the auditor concludes that the account balance is not materially misstated when,in fact,it is materially misstated,the auditor has committed the

A disadvantage of using a systematic random selection procedure is that