Multiple Choice
Risk of incorrect rejection is defined as _______.
A) the risk that the auditor concludes that a material misstatement does not exist when it does exist
B) the risk that the auditor concludes that a material misstatement exists when it does not exist
C) the risk that an auditor incorrectly rejects a client
D) the risk that management may reject the audit opinion issued by the auditor
Correct Answer:
Verified
Correct Answer:
Verified
Q52: Probability proportionate to size sampling _.<br>A)should only
Q53: The ultimate purpose of a substantive test
Q54: In _ the auditor estimates the audited
Q55: At the outset of substantive testing, the
Q56: The population consists of _.<br>A)all accounts in
Q58: Audit sampling is when _.<br>A)the auditor selects
Q59: When performing a substantive test, _.<br>A)the population
Q60: Classical variables sampling uses _.<br>A)normal distribution theory<br>B)probability
Q61: An account balance is $300,000 and there
Q62: The planned allowance for sampling risk is