Multiple Choice
Which of the following is true with respect to the risk of incorrect acceptance?
A) The risk of incorrect acceptance is determined in the planning stages of the audit prior to the study of internal control.
B) The risk of incorrect acceptance has an inverse relationship with sample size.
C) The risk of incorrect acceptance exposes the auditor to an efficiency loss.
D) The risk of incorrect acceptance may occur when the true (but unknown) account balance is fairly stated.
Correct Answer:
Verified
Correct Answer:
Verified
Q22: You are planning to use monetary
Q23: Green,CPA,performed a mean-per-unit sampling plan to examine
Q24: How does the auditor typically determine the
Q25: The auditor's sample would indicate that the
Q26: An auditor may decide to increase the
Q28: Jeter,CPA,performed a nonstatistical sampling plan to examine
Q29: All other factors being equal,as the risk
Q30: As the auditors' assessments of control risk
Q31: As the expected misstatement is large relative
Q32: Which of the following expresses the relationship