Multiple Choice
When statistical sampling methods are used by the client in determining inventories, professional standards require that the auditor ascertain the following except that the:
A) sampling plan has statistical validity.
B) sampling plan has been properly applied.
C) results in terms of reliability are reasonable.
D) appropriate tests of transactions have been applied.
E) results in terms of precision are reasonable.
Correct Answer:

Verified
Correct Answer:
Verified
Q7: Shown below is a partial system flowchart
Q8: In making test counts of inventory items,
Q9: Which one of the following analytical procedures
Q10: Payroll checks should be signed by authorized
Q11: The auditor's strategy in performing test counts
Q13: Listed below are five assertion categories coded
Q14: The auditor need not inquire of management
Q15: When the lower of cost or market
Q16: For proper control, unclaimed checks should be
Q17: Responsibility for updating of the personnel data