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Match Six of the Terms (A-L)with the Definitions Provided Below

Question 53

Matching

Match six of the terms (a-l)with the definitions provided below (1-6):

Premises:
a method of variables sampling in which the auditor estimates the population misstatement by multiplying the average misstatement in the sample by the total number of population items and also calculates sampling risk
a statistical sampling method that provides misstatement bounds expressed in monetary amounts
conclusions drawn from sample results based on knowledge of sampling distributions
the risk that the auditor is willing to take of accepting a balance as correct when the True misstatement in the balance exceeds the tolerable misstatement
sampling techniques for tests of details of balances that use the statistical inference processes
the risk that the auditor is willing to take of rejecting a balance as incorrect when it is not misstated by a material amount
Responses:
stratified sampling
probability proportional to size sample selection
statistical inferences
misstatement bounds
variable sampling
acceptable risk of incorrect rejection
mean-per-unit estimation
monetary unit sampling
acceptable risk of incorrect acceptance
ratio estimation
difference estimation
point estimate

Correct Answer:

stratified sampling
probability proportional to size sample selection
statistical inferences
misstatement bounds
variable sampling
acceptable risk of incorrect rejection
mean-per-unit estimation
monetary unit sampling
acceptable risk of incorrect acceptance
ratio estimation
difference estimation
point estimate
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