Multiple Choice
While performing a substantive test of details during an audit, the auditor determines that the sample results support the conclusion that the recorded account balance is materially misstated.It is, in fact, NOT materially misstated.This situation illustrates the risk of:
A) assessing control risk too low.
B) assessing control risk too high.
C) incorrect rejection.
D) incorrect acceptance.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Of the four factors which determine the
Q5: Assessed control risk and acceptable risk of
Q6: Discuss what is meant by 'representative sample'.
Q7: Monetary-unit sampling selects individual dollars as the
Q8: A statistical method used to estimate the
Q10: One of the ways to reduce sampling
Q11: Which one of the following statements regarding
Q12: When using monetary-unit sampling, the recorded dollar
Q13: Acceptable risk of assessing control risk too
Q14: Describe the differences between statistical and non-statistical